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WEST PALM BEACH, Fla. (AP) — President-elect Donald Trump on Saturday threatened 100% tariffs against a bloc of nine nations if they act to undermine the U.S. dollar. His threat was directed at countries in the so-called BRIC alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates. Turkey, Azerbaijan and Malaysia have applied to become members and several other countries have expressed interest in joining. While the U.S. dollar is by far the most-used currency in global business and has survived past challenges to its preeminence, members of the alliance and other developing nations say they are fed up with America’s dominance of the global financial system . The dollar represents roughly 58% of the world’s foreign exchange reserves, according to the IMF and major commodities like oil are still primarily bought and sold using dollars. The dollar's dominance is threatened, however, with BRICS' growing share of GDP and the alliance's intent to trade in non-dollar currencies — a process known as de-dollarization. Trump, in a Truth Social post, said: “We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy." At a summit of BRIC nations in October, Russian President Vladimir Putin accused the U.S. of “weaponizing” the dollar and described it as a “big mistake.” “It’s not us who refuse to use the dollar,” Putin said at the time. “But if they don’t let us work, what can we do? We are forced to search for alternatives.” Russia has specifically pushed for the creation of a new payment system that would offer an alternative to the global bank messaging network, SWIFT, and allow Moscow to dodge Western sanctions and trade with partners. Trump said there is "no chance" BRIC will replace the U.S. dollar in global trade and any country that tries to make that happen "should wave goodbye to America.” Research shows that the U.S. dollar's role as the primary global reserve currency is not threatened in the near future. An Atlantic Council model that assesses the dollar’s place as the primary global reserve currency states the dollar is “secure in the near and medium term” and continues to dominate other currencies. Trump's latest tariff threat comes after he threatened to slap 25% tariffs on everything imported from Mexico and Canada, and an additional 10% tax on goods from China, as a way to force the countries to do more to halt the flow of illegal immigration and drugs into the U.S. He has since held a call with Mexican President Claudia Sheinbaum, who said Thursday she is confident that a tariff war with the United States can be averted. Canadian Prime Minister Justin Trudeau returned home Saturday after meeting Trump, without assurances the president-elect will back away from threatened tariffs on Canada.
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Pep Guardiola called Manchester City’s 3-3 draw with Feyenoord “difficult to swallow” and admitted he understood the boos that greeted the final whistle after his side threw away a 3-0 lead in the last 15 minutes. City at least avoided a sixth consecutive defeat but the manner in which they blew a commanding advantage will do little to settle nerves in and around the club ahead of Sunday’s trip to Premier League leaders Liverpool. City appeared in total control after a brace from Erling Haaland and another from Ilkay Gundogan had them three up seven minutes into the second half, but after Anis Hadj Moussa got one back in the 75th minute, City imploded. “It is what it is, difficult to swallow right now,” Guardiola said. “The game was good, we played well, we scored three and could have scored more. We do everything and then we give away, especially the first one, and after we are not stable enough to do it. “It’s not about no run or no commitment, but football you have to be [switched on] in certain moments to do it.” Santiago Gimenez got Feyenoord’s second in the 82nd minute and David Hancko got a dramatic equaliser in the 89th, making City the first team in Champions League history to have led 3-0 in the 75th minute of a match and fail to win. Some City fans, who suffered through Saturday’s 4-0 humiliation at home to Tottenham, made their frustrations known at the final whistle. “The last game against Tottenham, 0-4, the supporters were there, applause,” he said. “They are disappointed of course and we understand it. “People come here not to remember success of the past, they come here to see the team win and perform well. I am not the one when the situation is bad or good [to say] what they have to do. “These supporters, when we go away, our fans are amazing, travelling. There is nothing to do and they are right to express what they feel.” Guardiola’s own frustrations were apparent given the number of scratches visible on his head after the match. The Catalan had arrived at the ground with a cut on his nose, which he said he had caused himself with a long fingernail. City now face a trip to Anfield to face the Liverpool side of former Feyenoord boss Arne Slot, whose named was chanted by the visiting fans during the match. “Everybody knows the situation, I don’t have to add absolutely anything,” Guardiola said. “We are going to train tomorrow, recovery and prepare the next game. Day off and we have two or three days to prepare that and go for it. We will learn for the future and what has been has been. “It will be a tough season for us and we have to accept it for many circumstances.” Feyenoord’s late fightback brought jubilant scenes in the away end. “I think if you’re from Feyenoord it was an unbelievable evening,” head coach Brian Priske said. “A strange game which ends 3-3 which is an unbelievable result for us and also remarkable in the essence of being 3-0 down in minute 75 away from home against still, for me, the best team in the world. “Normally we don’t celebrate draws but this one is a little bit special.”
NORTH CAROLINA CENTRAL 131, VIRGINIA-LYNCHBURG 51Trump says he can't guarantee tariffs won't raise US prices, won't rule out revenge prosecutions