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Gopal Misra

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New Delhi | Monday | 23 December 2024

The recent outbursts of the US President-elect about higher tariffs on finished goods and asking the BRICS countries to continue to trade in American dollars and maintain their foreign exchange reserves in the American currency appears to have boomeranged.

On this sensitive issue Brazil, Russia, India, China and South Africa are on the same page. The other countries, which have joined this forum include Egypt, United Arab Emirates, Ethiopia and Iran.

Interestingly, the first reaction challenging Trump’s policy has come from Chinese President Xi Jinping. He has politely declined the invitation to the inaugural ceremony. Beijing has stated that Jinping would not be attending  President Trump’s inaugural function. It must have stunned the Trump camp. The function is scheduled for January 20, 2025, just six weeks before the event the invitation has been declined. Instead, Beijing has stated that its Ambassador would be attending the function with his spouse.

Canada Reacts: Trump’s off-the-cuff statement that if Canadians feel the heat of higher tariffs, Canada should federate with the USA. It, perhaps, was just a joke, but It has not been taken kindly by the Canadian authorities. The northern neighbour recently reciprocated by the statement that Canada might discontinue its oil supply to the US. It may be noted that most of the fuel needs of the northern and east-coast states of the US are being met by fuel imports from Canada. Thus, the issue of Canada’s separate existence will now be blended with the sentiments of strong nationalism, perhaps, benefitting Prime Minister Treadeu’s political career.

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