President Donald Trump says he’s prepared to tariff and punish countries that challenge the U.S. dollar as the global reserve currency. Speaking at Tuesday’s cabinet meeting, Trump said that the dollar losing its status “would be like losing a war, a major world war. We would not be the same country any longer. And we’re not going to let that happen.” Trump made his comments after emphasizing his plan to put a 10% tariff on countries in the BRICS organization that have discussed creating alternatives to the dollar.
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July 9, 2025
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