Trump Threatens BRICS Nations with 100% Tariffs in Latest Move
President-elect Donald Trump has issued a stark warning to nations within the BRICS bloc—Brazil, Russia, India, China, and South Africa, alongside several other aspiring members, threatening 100% tariffs if they undermine the US dollar. This comes amidst escalating “de-dollarisation” discussions where countries aim to reduce reliance on the dollar for international trade.
BREAKING: 🇺🇸 US President-elect Trump says BRICS countries will face 100% tariffs if they dare to create a new currency to replace "the mighty US dollar."
"They will face 100% tariffs, and should expect to say goodbye to selling into the wonderful US economy." pic.twitter.com/bPnamnVzha
In a Truth Social post, Trump wrote: “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 US dollar…or they will face 100% tariffs.” His statement follows the increasing moves of BRICS nations to explore alternative currencies and payment systems, including efforts led by Russia and China.
Background: The De-Dollarisation Movement
The US dollar’s dominance as the world’s primary reserve currency has faced growing resistance, with nations like India and China engaging in bilateral trade using their local currencies. At a recent summit, Russian President Vladimir Putin criticised the US for “weaponising” the dollar, claiming this approach forces other nations to seek alternatives.
However, challenges remain in implementing a unified BRICS currency or reducing dependence on the dollar. Disparate economic conditions and policy objectives among BRICS members complicate consensus.
Reactions and Implications
Trump’s remarks have drawn sharp criticism, with opponents accusing him of further alienating key trading partners. Supporters argue his stance safeguards US economic interests. Analysts have highlighted the potential ramifications for global trade, warning that such tariffs could lead to increased economic isolation for the US and exacerbate existing trade tensions.
Despite the rhetoric, experts question the feasibility of completely supplanting the dollar given its entrenched role in global finance. Nevertheless, these developments underline shifting dynamics in international economic relations.
Conclusion
President-elect Trump’s threat of steep tariffs against BRICS nations underscores his hardline approach to maintaining US dollar dominance. This comes amid broader geopolitical shifts, as emerging economies explore alternatives to the dollar’s primacy.
