Trump Threatens 100% Tariff on BRICS Nations Over Dollar Alternatives
US President-elect Donald Trump has announced on his social media platform Truth Social that he would impose a 100 percent tariff on BRICS nations if they attempt to move away from trading in the US dollar.
Trump warned that any effort by the BRICS countries to create a new currency or endorse an alternative to the US dollar would result in serious economic consequences for the countries involved.
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In his post, Trump declared, “The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER.” He went on to assert that nations pursuing such a path would lose access to the US economy, emphasizing that the US dollar is irreplaceable in global trade.
Trump’s remarks come as the BRICS bloc, which includes Brazil, Russia, India, China, and South Africa, has been exploring ways to reduce its reliance on the US dollar—a process known as de-dollarization. Recently, the bloc expanded its membership to include Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE.
The US maintains significant trade relationships with key BRICS members. In 2022, US-China trade totaled $758.4 billion, while US-India trade amounted to $191.8 billion.
Additionally, last year, Pakistan applied for membership in BRICS, joining 29 other countries in seeking to become part of the bloc.
This is not the first time Trump has made a tariff-related threat, as he issued a similar warning earlier this week. His statement underscores the growing tension between the US and nations looking to challenge the dominance of the US dollar in global commerce.
