The Kremlin on Friday brushed off a repeat threat by U.S. President Donald Trump to impose tariffs on the BRICS grouping of countries if it created its own currency, saying there was and never had been such a plan.

MOSCOW (Reuters) - The Kremlin on Friday noted a repeat threat by U.S. President Donald Trump to impose tariffs on the BRICS grouping of countries if it created its own currency, but said there were no such plans.

Spokesperson for the Presidential Communication Office (PCO), Philips Vermonte, said on Friday that Indonesia's membership of BRICS does not mean the country is distancing itself from its Western allies.

Congress MP Shashi Tharoor said that US President Donald Trump’s threats to impose tariffs on BRICS nations “seem empty” as there is no plan to introduce an alternative currency to the US dollar. He said that there is no serious proposal for the BRICS to come up with an

Kremlin spokesperson Dmitry Peskov clarified that BRICS, of which Russia is a member, was not considering the creation of a shared currency but was instead focused on developing joint investment platforms.

US President Donald Trump has reiterated his threat to place 100% tariffs on BRICS nations, as the deadline loomed for him to impose tariffs on Canada and Mexico.

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The Kremlin on Friday brushed off a repeat threat by U.S. President Donald Trump to impose tariffs on the BRICS grouping of countries if it created its own currency, saying there was no such plan.

President Donald Trump has issued a stern warning to the BRICS nations—Brazil, Russia, India, China, and South Africa—against efforts to replace the U.S. dollar as the world's primary reserve currency.

The Pound Sterling trades sideways against the US Dollar above 1.2400 as investors focus on the US PCE inflation data for December. President Trump’s tariff threats on BRICS and its North American peers have increased USD’s safe-haven appeal.

Russia countered United States President Donald Trump’s tariff threat against BRICS while claiming the group has no intention to dethrone the US dollar. BRICS — a group of emerging economies including Brazil,