What will be dollar's fate?

Pars Today- The United States has been using dollar as a financial and commercial weapon for years.

The spokesman of the White House said on Monday that, in view of the US president, the moves of BRICS group are not acceptable as they are "against the interests of this country." Trump had said that any country which accompanies the anti-American policies of BRICS will be included in the additional %10 tariff and there will be no exception for this policy. According to Pars Today, these remarks of Trump have caused reactions by some of the BRICS officials, including the Brazilian president.

Lula da Silva said about enforcing additional tariffs on BRICS member states, "In my opinion, this is not a serious and responsible job that the president of a large country like the US would threaten the world with internet."

The spokesman of the Chinese foreign ministry, too, said that tariff and trade wars will not gain victory and such proposals would lead nowhere.

Donald Trump has threatened the BRICS member states while the US has used dollar as a financial and trade weapon for years.

The global reserve value of dollar has caused the US to resort to sanctions, omission of swift and confiscation of properties to reach its political and geopolitical goals in the world.

That's why, many countries have thought of alternatives and using local currencies in a bid to de-dollarize their payment system.

Moreover, the tremendous debt of the US to the global financial organizations has caused countries to lose trust in dollar.

In view of this, the Russian Foreign Minister, Sergei Lavrov, said that trust in dollar has weakened. The US debt has amounted to the skyrocketing figure of $37 trillion.

Furthermore, experts opine that sudden announcement of broad tariffs by Trump and his unstable trade policies have urged investors to pull out their money from the American properties which has ultimately resulted in weakening of dollar.

Therefore, it seems that the US interests have weakened mostly because of the policies imposed by the US officials. Yet, Trump adamantly persists in imposition of unilateral pressure on other countries to maximize the US interests.

RM/ME