President-elect Donald Trump has issued a warning to BRICS nations, threatening to impose a 100 percent tariff on their goods if they proceed with plans to undercut the US dollar. Writing on his Truth Social platform, Trump demanded a commitment from BRICS countries to abandon any efforts to create a new BRICS currency or support alternative currencies to replace the dollar.
The statement follows a recent BRICS summit in Kazan, Russia, where member nations, including Brazil, Russia, India, China, and South Africa, discussed boosting non-dollar transactions and strengthening local currencies. The group has since expanded to include countries like Iran, Egypt, and the UAE, collectively representing a growing portion of global economic output.
Trump reiterated his protectionist stance, warning that if BRICS continues with its plans, its members “should expect to say goodbye to selling into the wonderful US economy.” He emphasised his intent to protect the dominance of the US dollar in global trade.
Also Read: You’ll be partly to blame if I lose election, Trump tells Jewish voters
The BRICS coalition, which has grown since its 2009 inception, poses a potential challenge to dollar hegemony as it seeks to diversify international trade away from US currency dependency.
Leave feedback about this
You must be logged in to post a comment.