Trump Warns BRICS Nations of 100% Tariffs Over De-Dollarisation Efforts

U.S. President Donald Trump has issued a strong warning to the BRICS bloc, threatening to impose 100% tariffs if member nations attempt to create their own currency and move away from the U.S. dollar.

Speaking on Thursday, Trump made it clear that he expects BRICS countries to commit to not developing an alternative currency or supporting any effort to replace the dollar. If they fail to comply, he warned they would lose access to the U.S. market.

"There is no chance that BRICS will replace the U.S. dollar in international trade or anywhere else. Any country that tries should say hello to tariffs and goodbye to America!" Trump declared on his Truth Social platform.

BRICS and the Push for De-Dollarisation

The BRICS alliance—comprising Brazil, Russia, India, China, South Africa, Saudi Arabia, Egypt, the UAE, Ethiopia, Iran, and Indonesia—has repeatedly expressed interest in developing an alternative global currency. This initiative aims to reduce reliance on the U.S. dollar in trade and finance.

Although the concept of a BRICS currency has been discussed for years, it has yet to be implemented. However, U.S. lawmakers continue to scrutinise the potential economic and geopolitical impact of such a move.

Trump's Ongoing Tariff Strategy

Trump has long used tariffs as a key policy tool to advance his economic and political agenda. In addition to his warning against BRICS nations, he is set to enforce 25% tariffs on Canada and Mexico starting Saturday.

As global trade tensions escalate, Trump’s latest threats highlight the high stakes of de-dollarisation and the potential economic fallout for BRICS nations seeking to challenge U.S. financial dominance.

(Sources: investing.com, reuters.com, ChatGPT)