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President Donald Trump has resurfaced his old threat of imposing 100% tariffs on the BRICS nations via Truth Social, the social media platform owned by his company Trump Media & Technology Group Corp. (NASDAQ:DJT). But this fund manager, while agreeing with his views asks how the will U.S. manage the production of essential goods.
What Happened: Trump, who had issued the 100% tariff threat earlier in December, warned the BRICS nations again, calling them “hostile,” for planning a combined BRICS currency.
Aditya Sesh, founder and managing director of Basiz Fund Services, told Benzinga that the U.S. is justified in using tariffs to protect the dollar’s strength and promote reciprocal trade, aiming to boost American exports and improve negotiating leverage for the country.
However, Sesh out that “Assuming 100% tariffs are imposed, how will the U.S. manage production from Slippers to Ships? Will American factories come up so quickly, and if so, at what cost? What about the inflationary impact of consumables in the U.S. when imports become expensive? It will also impact not just the American capital markets but also global capital markets.”
Trump announced Thursday that the ...
