President-elect Donald Trump threatened Saturday to impose 100% tariffs on any BRICS nation that abandons the U.S. dollar.
Trump warned the economic alliance — composed of markets in countries like Brazil, Russia, India, China and South Africa — that moving away from the U.S. dollar to create a new BRICS currency will not be taken lightly under his incoming administration.
“The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER. 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,” Trump posted on Truth Social.
“They can go find another ‘sucker!’ There is no chance that the BRICS will replace the U.S. Dollar in International Trade, and any Country that tries should wave goodbye to America,” he added.