After Donald Trump’s ‘go find another sucker’ comment for BRICS nations, UN agency warns of global trade war
- The UN has expressed concerns over a potential global trade war following US President-elect Donald Trump’s warning to BRICS nations. Trump’s comment, “Go find another sucker,” threatened 100% tariffs if Brazil, Russia, India, China, and South Africa try to replace the US dollar in global trade.
A United Nations agency has issued a warning about the potential for a global trade war following comments from US President-elect Donald Trump aimed at BRICS nations. Trump's remark, “Go find another sucker,” directed at—Brazil, Russia, India, China, and South Africa—has raised concerns about growing tensions in global trade.
The UN Conference on Trade and Development (UNCTAD) reported that global trade reached a record $33 trillion in 2024, fueled by a 3.3% growth rate. However, the agency cautioned that trade wars could undermine this progress in 2025 due to possible changes in US trade policies under Trump’s administration.
Trump has suggested imposing higher tariffs on key trade partners, a move that UNCTAD warns could disrupt global supply chains, provoke retaliatory actions, and slow economic growth. Countries like China, the EU, and Vietnam, which maintain significant trade surpluses with the US, are particularly exposed, according to the report.
UNCTAD urged developing economies to diversify their trade and invest in high-value sectors to mitigate these risks. Secretary-General Rebeca Grynspan emphasized that trade remains crucial for sustainable development and called for global cooperation to address potential disruptions.
Also Read | Trump’s 100 per cent tariff threat on BRICS: Need to see if US law permits sanctions: Ex-RBI Guv
Trump warns BRICS: ‘Go find another sucker’ amid currency move threats
President-elect Donald Trump issued a stark warning on December 1 to BRICS nations against pursuing alternatives to the US dollar, threatening 100% tariffs on their exports to the US. “They can go find another ‘sucker!’” Trump posted on Truth Social, adding that any attempt to create a BRICS currency or back another to replace the dollar would mean waving goodbye to the US economy.
“We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty US Dollar or, they will face 100% Tariffs and should expect to say goodbye to selling into the wonderful US Economy,” Trump warned.
Also Read | Trump’s threat of 100% tariffs unrealistic; India should focus on local currency trading:GTRI
BRICS, a bloc comprising nations like India, Russia, China, and Brazil, has been exploring de-dollarization. While Russia and China push for alternatives, India has distanced itself from such plans. External Affairs Minister S Jaishankar clarified that India has no intent to undermine the dollar but must seek solutions when trade partners lack access to it.
The BRICS currency idea, proposed by Brazil’s President Lula, remains under study.
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Business NewsNewsUs NewsAfter Donald Trump’s ‘go find another sucker’ comment for BRICS nations, UN agency warns of global trade war
First Published:5 Dec 2024, 10:42 PM IST
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