Trump Threatens 100% Tariffs on BRICS Countries if They Move Away from US Dollar
US President-elect Donald Trump has issued a stark warning to the BRICS countries, threatening to impose 100% tariffs on imports from the group if they plan to replace the US dollar in global trade. The BRICS bloc, comprising Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates (UAE), has been pushing for a shift toward alternative financial frameworks that would challenge the US dollar’s dominance in global business.
In a post on social media platform X, Trump reacted to the BRICS’ growing interest in de-dollarization, insisting that the US would not passively stand by as the dollar’s supremacy is threatened. “The idea that the BRICS countries are trying to move away from the Dollar while we stand by and watch is OVER,” Trump declared.
He went on to demand a commitment from the BRICS nations, warning, “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. They can go find another ‘sucker!’”
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Trump’s comments come amid increasing calls from BRICS leaders for greater financial independence from Western-dominated systems. In October, Russian President Vladimir Putin accused the US of “weaponizing” the dollar and referred to its global dominance as a “big mistake.” The BRICS nations are pushing for alternative payment systems, which could potentially reduce their reliance on the US dollar for international trade.
Despite these moves, the US dollar remains the world’s primary reserve currency. According to the International Monetary Fund (IMF), the dollar makes up about 58% of global foreign exchange reserves. Additionally, key commodities like oil are still predominantly traded in US dollars.
