Nashville Standard

United States Senator Bill Hagerty, a member of the Senate Banking and Foreign Relations Committees, appeared on Fox Business' "Mornings With Maria" to discuss various international issues. The conversation touched upon the recent BRICS Summit, the Biden-Harris Administration's approach to China, and Hagerty's proposed stablecoin legislation.

During his appearance, Hagerty commented on the BRICS Summit: “Were it not for the tremendous leadership void that exists today because of America’s exit from the international stage, we wouldn’t be seeing this happen. And under President [Donald] Trump, this would have never happened. They’ve expanded BRICS now to 32 nations... It's amazing." He expressed concern over the involvement of UN Secretary General Gutierrez and Iran's inclusion in BRICS.

Hagerty also discussed China's economic influence within BRICS nations: “You mentioned China; that is another common bond here: China’s economic ties and leverage over these countries with the Belt and Road Initiative... I’m very concerned." He criticized how he believes the current administration has handled diplomatic relations with China compared to former President Trump.

Furthermore, Hagerty addressed legal actions involving former Attorney General Loretta Lynch: “This is exactly why President Trump has said we must drain the swamp... It is just shocking.” He argued against what he perceives as compromising U.S. national security interests by defending Chinese companies.

On his stablecoin legislation aimed at providing a regulatory framework, Hagerty stated: “As you mentioned, this builds upon some excellent work that was done in the House of Representatives... This will actually strengthen our posture as a reserve currency.” He emphasized the importance of maintaining U.S. dollar dominance globally through clear regulations.

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