Donald Trump has warned of imposing 100% tariffs on BRICS countries, including Russia and China, if they try to replace the U.S. dollar with another currency.
In a statement shared on Truth Social, Trump, the president-elect, cautioned that nations supporting a new currency could face steep import duties. He also hinted that these countries might eventually be barred from selling their goods in the U.S.
BRICS, a group established in 2009, originally included Brazil, Russia, India, and China. Over time, South Africa, Egypt, Ethiopia, Iran, and the UAE joined the group. The bloc has been discussing ways to reduce reliance on the U.S. dollar, with some members suggesting the use of local currencies for international trade.
Trump’s comments highlight growing tensions over economic policies and global currency dominance. The U.S. dollar has long been the primary currency for international trade and finance. However, efforts by BRICS nations to promote alternative currencies are seen as a challenge to this dominance.
If Trump’s proposed tariffs are implemented, they could significantly impact trade relations between the U.S. and BRICS nations. Critics argue that such measures could lead to trade wars and disrupt global markets. Supporters of the tariffs, however, believe they are necessary to protect U.S. economic interests.
This development reflects the broader debate over the balance of power in the global economy and the future role of the U.S. dollar.
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