The US President-elect Donald Trump Warns BRICS Nations with 100% Tariffs for Challenging US Dollar
President-elect Donald Trump has issued a strong warning to BRICS nations, threatening them with 100% tariffs if they pursue plans to challenge the dominance of the US dollar.
Trump took to Truth Social to demand a commitment from BRICS members – Brazil, Russia, India, China, and South Africa – not to create or support an alternative currency. He stated, “We require a commitment from BRICS nations that they will neither create a new currency nor back any other currency to replace the mighty US Dollar, or they will face 100 percent tariffs.”
These remarks come following a summit in Kazan, Russia, where BRICS nations discussed strengthening non-dollar transactions and local currencies. A joint declaration was made to enhance correspondent banking networks and facilitate settlements in local currencies.
Russian President Vladimir Putin has downplayed speculation about a unified BRICS currency or a rival to the SWIFT financial messaging system, stating that these are not immediate priorities.
With the inclusion of nations like Iran, Egypt, and the UAE, BRICS represents a significant portion of the global economic output. Trump’s statements indicate a protectionist approach against potential economic shifts that could threaten the US dollar’s central position in international trade.
If BRICS continues on this path, Trump warns that they “should expect to say goodbye to selling into the wonderful US Economy,” emphasizing his commitment to vigorously defend American interests.
These threats come as Trump gears up to implement a protectionist economic agenda, raising tensions with global partners. His rhetoric highlights the obstacles BRICS nations may encounter if they persist in reducing their reliance on the US dollar.
