US President-elect Donald Trump has escalated tensions with the BRICS bloc by warning that he would impose a 100% tariff on imports from member countries if they move forward with creating a new currency to challenge the US dollar.
This threat, posted on his Truth Social platform on Saturday, November 30, signals a strong stance against any attempt by the BRICS nations to lessen their reliance on the US dollar in global trade.
In his statement, Trump declared, “The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER,” emphasizing that the US would not tolerate any efforts to replace its currency as the global reserve.
The BRICS group, originally consisting of Brazil, Russia, India, China, and South Africa, has recently expanded to include Iran, Saudi Arabia, the UAE, Argentina, Egypt, and Ethiopia.
Several of these countries, particularly Russia and China, have called for a new BRICS-backed currency as an alternative to the US dollar.
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Trump further warned, “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.”
This latest statement comes as part of Trump’s broader trade agenda, which has already seen him threaten 25% tariffs on imports from Canada and Mexico, and an additional 10% on goods from China.
These measures are intended to address issues such as illegal migration and drug trafficking, but they have already prompted diplomatic backlash, with Canadian Prime Minister Justin Trudeau visiting Trump’s Mar-a-Lago residence to discuss the matter.
The BRICS nations have long criticized the US dollar’s dominance in global trade, with Russian President Vladimir Putin accusing Western powers of “weaponizing” the dollar.
At the BRICS summit in October, Putin argued that US sanctions against Russia have undermined global trust in the dollar.
As Trump prepares to take office, his aggressive trade policies are set to reshape the global economic landscape.
The international community is now closely watching whether his tariff threats will be enforced and how BRICS nations and other trading partners will respond.