President-elect Donald Trump has issued a stern warning to the BRICS group of nations, threatening to impose a 100% tariff on their goods if they undermine the dominance of the US dollar in global trade.
In a post on his Truth Social platform, Trump demanded a commitment from BRICS nations including Brazil, Russia, India, China, and South Africa—not to establish a new currency or support any alternatives aimed at replacing the US dollar. “They will face 100% tariffs if they attempt to challenge the mighty US Dollar,” Trump stated.
This announcement follows the BRICS summit held in Kazan, Russia, last month, where member nations discussed strategies to boost non-dollar transactions and strengthen local currencies. The group, which has significantly expanded since its inception in 2009, now includes nations like Iran, Egypt, and the United Arab Emirates, representing a growing share of global economic activity.
At the summit, Russia’s President Vladimir Putin emphasized progress in enhancing financial cooperation within BRICS but downplayed the development of a unified BRICS currency or an alternative to the SWIFT financial messaging system. “We are not creating alternatives to SWIFT or a unified BRICS currency at this time,” Putin clarified.
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Despite these assurances, Trump remains resolute in defending the US dollar’s status in international trade. He vowed to implement a protectionist trade agenda, warning BRICS nations that pursuing alternatives to the dollar would mean losing access to the US market.
“Any country that tries to replace the US Dollar should wave goodbye to America. They can go find another ‘sucker,'” Trump declared, reaffirming his stance that the US economy remains indispensable to global trade.
Trump’s threat underscores growing tensions as BRICS nations explore strategies to reduce reliance on the dollar, potentially reshaping the international financial landscape.
