The debates on the diversification of means of payment no Brics are among the priorities of Brazilian presidency in the group — and they will not stop being there after threats from the American president Donald TrumpBrazilian diplomatic sources said, subject to CNN .
The Republican used his social networks to say that would apply tariffs of 100% about the members of the Bricsif these countries do not commit to abandoning plans to create new currency or support another substitute do dollar. “There is no chance of Brics replacing the dollar. And any country that tries should say goodbye to the United States,” he added.
The main argument of diplomacy is that there is no initiative to create a new currency or work on a solution that replaces the dollar. Since the beginning of debates on the topic, the government reinforces the message that this is an attempt to diversify possibilities block payment only.
A source close to the work of the Brazilian presidency highlights that the initiative is resembles to the Local Currency Payment System (SML) of the Mercosur. This mechanism allows transactions between companies and people from Brazil, Argentina, Paraguay and Uruguay take place in their respective local currencies.
In practice, the assessment is that Trump’s message don’t talk with what will be Brazil’s delivery at the head of the group, and therefore there will be no worries.
As five priorities of Brazil ahead of the Brics are:
- 1) facilitation of trade and investment between countries, through the development of payment methods
- 2) promoting inclusive and responsible governance of Artificial Intelligence
- 3) improving financing structures to address climate change
- 4) encouraging cooperation projects between countries in the Global South, with a focus on public health
- 5) institutional strengthening of BRICS.