International News
BRICS vs. Dollar: Trump Issues Trade Threats To Emerging Bloc
President-elect Donald Trump has issued a sharp warning to BRICS nations, threatening to impose a 100% tariff on their exports to the United States if they pursue efforts to reduce reliance on the US dollar in international trade.
In a statement posted on his Truth Social platform, Trump demanded assurances from the BRICS bloc—which includes Brazil, Russia, India, China, and South Africa, along with new members such as Iran, Egypt, and the UAE—that they would abandon any plans to create an alternative global currency.
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“We require a commitment… that they will neither create a new BRICS Currency, nor back any other currency to replace the mighty US Dollar, or they will face 100 percent tariffs,” Trump wrote.
The warning follows the BRICS summit in Kazan, Russia, where member states discussed measures to strengthen local currencies and reduce reliance on the dollar in trade.
A joint declaration issued at the summit endorsed initiatives such as expanding correspondent banking networks and enabling settlements in local currencies under the BRICS Cross-Border Payments Initiative.
Despite these discussions, Russian President Vladimir Putin acknowledged that progress on more ambitious goals—such as a unified BRICS currency or a competitor to the SWIFT financial messaging system—remains limited.
“As for SWIFT and any alternatives, we have not created and are not creating any alternatives,” Putin said at the conclusion of the summit. He added, “As for a unified BRICS currency, we are not considering that question at the moment.”
Trump, however, dismissed such reassurances, signaling his intent to protect the dollar’s dominance in global trade.
“If BRICS countries continue with their plans, they should expect to say goodbye to selling into the wonderful US Economy,” he warned.
“They can go find another ‘sucker!’ There is no chance that the BRICS will replace the US Dollar in international trade, and any country that tries should wave goodbye to America.”
This marks a continuation of Trump’s protectionist trade agenda, which defined much of his first term in office.
His administration imposed steep tariffs on countries such as China and Mexico, citing the need to safeguard American industries.
International News
Mahama Sworn In As Ghana’s President, Refers To Tinubu As ‘President of Ghana’
In a significant political development, John Dramani Mahama was officially sworn in as Ghana’s President today, January 7, succeeding Nana Akufo-Addo.
The 65-year-old leader begins his second tenure in the role, having previously served as president from July 2012 to January 2017.
During the inauguration ceremony, Mahama made an unexpected slip, mistakenly referring to Nigerian President Bola Ahmed Tinubu as the “President of Ghana.”
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The statement, made in front of a global audience, quickly went viral.
This marks Mahama’s second time at the helm.
He initially assumed office in July 2012, following the passing of then-President John Evans Atta Mills. After completing Mills’ term, Mahama won the 2012 presidential election, serving a full term before stepping down in 2017.
Today’s inauguration was attended by dignitaries and citizens eager to witness Mahama’s return to power.
Despite the momentary gaffe, the ceremony was hailed as a testament to Ghana’s vibrant democracy.
See video below:
International News
Powerful 6.8-Magnitude Earthquake Hits China, Dozens Killed
A powerful earthquake struck China’s remote Tibet region on Tuesday, leaving at least 53 people dead and 62 injured, state media reported.
The quake, which hit Dingri County near the Nepal border, also caused significant damage, with over 1,000 buildings affected and many completely destroyed.
The tremor, measured at 6.8 magnitude by the China Earthquake Networks Center (CENC) and 7.1 by the US Geological Survey, occurred at 9:05 a.m. local time (0105 GMT).
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It is the strongest earthquake recorded within a 200-kilometer radius in the past five years, according to CENC.
Videos aired by China’s state broadcaster CCTV showed homes reduced to rubble and streets filled with debris.
Surveillance footage from a local store captured the moment of impact, with shelves violently shaking and items like toys crashing to the floor.
In the town of Lhatse, visuals verified by AFP revealed rubble scattered outside shops and eateries.
Rescue workers are seen navigating through the devastation, distributing thick blankets to residents struggling with subzero temperatures.
The China Meteorological Administration warned that temperatures in Dingri could drop to minus 18 degrees Celsius (0 degrees Fahrenheit) by nightfall.
“Dingri County and its surrounding areas experienced very strong tremors, and many buildings near the epicenter have collapsed,” state broadcaster CCTV reported.
Chinese President Xi Jinping has called for “full-scale search and rescue efforts, minimizing casualties to the greatest extent possible, properly resettling affected residents, and ensuring their safety and warmth through the winter.”
Disaster relief, including tents, quilts, and other essential supplies, has been dispatched to the affected areas.
Local authorities are continuing efforts to assess the full impact of the quake, Xinhua News Agency reported.
The earthquake’s tremors extended into neighboring Nepal and parts of India.
Residents of Kathmandu and areas near Everest in Nepal’s high mountains reported strong shaking.
“It shook quite strongly here, everyone is awake,” said Jagat Prasad Bhusal, a government official in Nepal’s Namche region. However, no casualties or damage were reported in Nepal, according to Nepali Home Ministry spokesman Rishi Ram Tiwari.
Some tremors were also felt in India’s Bihar state, though no injuries were reported.
The Himalayan region, situated on a major tectonic fault line where the Indian and Eurasian plates collide, is highly prone to earthquakes.
This latest quake follows other recent seismic disasters, including a 7.8-magnitude quake in Nepal in 2015 that killed nearly 9,000 people and injured more than 22,000.
In China, a 7.0-magnitude earthquake along the China-Kyrgyzstan border in January 2024 killed three people, while a December 2023 quake in Gansu Province claimed 148 lives and displaced thousands.
The extreme weather conditions in Tibet are complicating rescue and relief efforts.
Temperatures in the affected region are already below freezing, and survivors face further hardships as authorities work to restore order and safety.
Xinhua reported that “local authorities are reaching out to various townships in the county to assess the impact of the quake.”
International News
JUST IN: Canada PM Resigns Amid Political Crisis
Canadian Prime Minister Justin Trudeau has announced his decision to resign, bringing an end to his nearly 10-year tenure as leader of the country.
Speaking to reporters in Ottawa on Monday, Trudeau said he will step down as soon as the ruling Liberal Party selects a new leader.
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“I intend to resign as party leader, as prime minister,” Trudeau declared, signaling the conclusion of a political career that began with his election as prime minister in 2015.
The announcement follows months of internal pressure and a political crisis that saw top Liberal Party members urging Trudeau to step aside.
More to follow……….