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A former White House economic advisor says a coming BRICS-issued currency has the potential to topple the US dollar’s dominance in international trade. U.S. President-elect Donald Trump has warned the BRICS countries that if they attempt to replace the “mighty U.S. dollar” they would face “100 percent tariffs and should Experts in the U.S. are deeply divided on its prospects. U.S. Treasury Secretary Janet Yellen believes the dollar will remain dominant as most countries have no BRICS, an association of major emerging economies, is pushing for a significant shift away from dollar dependency. It plans to use a combination of local currencies Former White House economist Joseph Sullivan has warned that a BRICS currency would erode the U.S. dollar’s dominance. If member nations use only a common Former White House economist Joseph Sullivan has warned that a BRICS currency would erode the U.S. dollar’s dominance. The decline of the dollar in global reserves, now standing at 59% in 2025, down from 72% in 2025, is not just a matter of capital reallocation. It embodies a gradual With long-held de-dollarization plans by the BRICS collective, former White House economist Joe Sullivan recently discussed his perspective on the seemingly inevitable Given the recent expansion of the “BRICs” countries to include five new members, will the US dollar remain the world’s reserve currency? Franklin Templeton

BRICS Currency: Former White House Economist Expects USD Decline

The future of the US dollar is under scrutiny as BRICS nations push for de-dollarization. A former White House economic advisor, Joseph Sullivan, has warned that a BRICS currency would erode the U.S. dollar’s dominance, potentially impacting global trade and finance.

BRICS Currency: A Threat to Dollar Dominance?

With long-held de-dollarization plans by the BRICS collective, former White House economist Joe Sullivan recently discussed his perspective on the seemingly inevitable shift. He\'s not alone in his concerns. A coming BRICS-issued currency has the potential to topple the US dollar’s dominance in international trade.

Joseph Sullivan\'s Warning on BRICS Impact

Former White House economist Joseph Sullivan has warned that a BRICS currency would erode the U.S. dollar’s dominance. The decline of the dollar in global reserves, now standing at 59% in 2025, down from 72% in 2025, is not just a matter of capital reallocation. It embodies a gradual change in the global economic landscape.

BRICS Expansion and De-Dollarization

Given the recent expansion of the “BRICs” countries to include five new members, the question on everyone\'s mind is: will the US dollar remain the world’s reserve currency? Franklin Templeton is closely watching these developments. BRICS, an association of major emerging economies, is pushing for a significant shift away from dollar dependency. It plans to use a combination of local currencies to facilitate trade.

Conflicting Opinions and the Future of the USD

Experts in the U.S. are deeply divided on its prospects. While some echo Sullivan\'s concerns, U.S. Treasury Secretary Janet Yellen believes the dollar will remain dominant as most countries have no viable alternative. U.S. President-elect Donald Trump has previously warned the BRICS countries that if they attempt to replace the “mighty U.S. dollar” they would face “100 percent tariffs."

The Impact of a Common BRICS Currency

If member nations use only a common BRICS currency for trade among themselves, the impact on the dollar could be significant. While the path forward remains uncertain, the potential for a weaker US dollar due to BRICS initiatives is a topic of serious discussion among economists and policymakers alike.

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