World
Trump repeats tariffs threat to dissuade BRICS nations from replacing US dollar
President Donald Trump on Thursday warned off BRICS member countries from replacing the U.S. dollar as a reserve currency by repeating a 100%-tariffs threat he had made weeks after winning the November presidential elections.
“We are going to require a commitment from these seemingly hostile Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs,” Trump said on Truth Social in a statement nearly identical to one he posted on Nov. 30, Reuters reported.
At the time, Russia said that any U.S. attempt to compel countries to use the dollar would backfire.
The BRICS grouping includes Brazil, Russia, India, China, and South Africa and a few other countries that joined in the past couple of year. The grouping does not have a common currency, but long-running discussions on the subject have gained some momentum after the West imposed sanctions on Russia over the war in Ukraine.
“There is no chance that BRICS will replace the U.S. Dollar in International Trade, or anywhere else, and any Country that tries should say hello to Tariffs, and goodbye to America!,” he said.
Trump posted his warning to the BRICS as Canada and Mexico await for his decision to follow through on a pledge to impose 25% tariffs on the United States’ North American trading partner from Feb. 1.
Trump wants to use tariffs as a tool to get Mexico and Canada to help stem the flow of illegal drugs into the United States, particularly the deadly opioid fentanyl, and also migrants crossing illegally into the U.S.
Dollar dominance — the outsized role of the U.S. dollar in the world economy — has strengthened of late, thanks to the robust U.S. economy, tighter monetary policy and heightened geopolitical risks, even as economic fragmentation has boosted a push by BRICS countries to shift away from the dollar into other currencies.
A study by the Atlantic Council’s GeoEconomics Center last year showed that the U.S. dollar remains the world’s primary reserve currency, and neither the euro nor the so-called BRICS countries have been able to reduce global reliance on the dollar.
The acronym BRIC, which did not initially include South Africa, was coined in 2001 by then Goldman Sachs chief economist Jim O’Neill in a research paper that underlined the growth potential of Brazil, Russia, India and China.
The bloc was founded as an informal club in 2009 to provide a platform for its members to challenge a world order dominated by the United States and its Western allies. South Africa was the first beneficiary of an expansion of the bloc in 2010 when the grouping became known as BRICS.
The group added Egypt, Ethiopia, Iran and the United Arab Emirates in 2023, and Indonesia became member earlier this month.
World
Houthi-run health ministry says airstrikes kill 33 near Yemen capital
The ministry said the strikes hit homes in the town of Bani Hushaysh, a Houthi stronghold east of Sanaa, and that most of those killed were women and children.
At least 33 people were killed and 39 wounded in what the Houthi-run Saba news agency said were Saudi airstrikes on a village near Yemen’s capital Sanaa on Saturday, in one of the deadliest reported attacks since fighting between Saudi Arabia and the Iran-aligned group resumed in July.
Reuters could not independently verify the account. Saudi Arabia’s Center for International Communication said it was investigating the report.
The renewed fighting between Saudi Arabia and the Houthis has shattered a 2022 UN-brokered truce that largely halted attacks between the Saudi-led coalition and the group, which controls Sanaa. The Houthis have since launched missile and drone attacks on Saudi airports and oil facilities, while Riyadh has carried out airstrikes in Yemen in support of its Yemeni allies.
The ministry said the strikes hit homes in the town of Bani Hushaysh, a Houthi stronghold east of Sanaa, and that most of those killed were women and children.
Abdul-Aziz al-Dailami, director of Sehatuna Hospital in Sanaa, said many victims remained trapped under the rubble, including first responders.
“The strikes keep coming. Just as rescuers arrive, another strike hits. We have even lost some of our own medical responders, who have been martyred,” he told Reuters.
“We received a number of wounded individuals in very critical condition, with injuries to the head, chest and legs, as well as fractures,” al-Dailami added.
The fighting, a spillover from the wider US-Iran conflict, has revived a complex 12-year war in Yemen that has caused one of the worst humanitarian crises globally and fragmented the Arab world’s most impoverished country.
The number of people displaced since the latest round of fighting began has climbed to more than 200,000, the International Organization for Migration said in October.
World
White House declares ‘Trump is still your president’ after Republicans suffer sweeping midterm defeats
The White House has issued a defiant message following a crushing performance by Republicans in the US midterm elections, declaring that Donald Trump remains president despite significant gains by the Democrats.
In a post on X on Wednesday, the White House shared an image of Trump bearing the words: “TRUMP IS STILL YOUR PRESIDENT.” The accompanying message added: “Thank you for your attention to this matter.”
The statement came after Democrats secured a Senate majority and made major gains in traditionally Republican strongholds, including Texas, Kansas, South Carolina and Ohio.
The midterm elections, which determine control of Congress, were widely viewed as a referendum on Trump’s presidency. All 435 seats in the House of Representatives and 35 of the 100 Senate seats were contested.
The war in Iran and mounting cost-of-living pressures were among the issues believed to have contributed to the Republican setbacks.
Trump acknowledged that the conflict with Iran had affected the election results, particularly through its impact on fuel prices, but defended his decision to pursue the war.
Speaking to Politico, he said the conflict had pushed gasoline prices higher in the short term, but maintained that military action was necessary in the long run.
Iranian officials welcomed the election outcome. Parliament Speaker and chief negotiator Mohammed Bagher Ghalibaf wrote on X that American voters had rejected war, saying: “Conscience or the cost of living, Americans said NO TO WAR.”
Trump also reflected on his campaign rallies, saying the enthusiasm surrounding his appearances had failed to translate into support for Republican candidates.
“They just couldn’t transfer that love,” he said.
Although Trump indicated he was prepared to work with Democrats, he warned that political gridlock could follow, threatening to use his presidential veto to block their legislative agenda.
World
Democrat Abdul El-Sayed becomes first Muslim elected to US Senate
Democrat Abdul El-Sayed has won Michigan’s US Senate race, defeating former Republican lawmaker Mike Rogers and becoming the first Muslim elected to the US Senate, according to US television networks.
“Michigan, we did it!” El-Sayed declared at his victory celebration in Detroit, where hundreds of supporters gathered to celebrate.
“I am so proud and honoured to stand here as your senator-elect from the great state of Michigan,” the 42-year-old said.
El-Sayed secured the victory despite a late campaign setback when Democratic Congresswoman Haley Stevens, whom he defeated in the party primary, endorsed Rogers shortly before election day.
A former medical administrator, El-Sayed campaigned on progressive promises, including universal healthcare, reducing the influence of money in politics and tackling the rising cost of living.
He replaces retiring Democratic Senator Gary Peters and held a lead of nearly six percentage points over Rogers when US networks called the race.
His campaign attracted large crowds across Michigan, including in traditionally Republican areas, while drawing support from labour unions, activists and younger voters.
Republicans had launched a fierce campaign against El-Sayed, portraying him as a radical and questioning his patriotism. He also faced Islamophobic attacks and mockery over his Arabic name from President Donald Trump and Vice President JD Vance.
Addressing Vance during his victory speech, El-Sayed said the vice president was constitutionally obligated to swear him into office in January.
The victory came amid a strong showing by Democrats in several races, prompting jubilant supporters at El-Sayed’s headquarters to chant: “Tsunami! Tsunami!”
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