President Donald Trump has once again issued a stark warning to BRICS nations, threatening to impose 100% tariffs on any of the group’s members that attempt to replace the US dollar in international trade. Trump’s remarks, made on Thursday via a post on his Truth Social platform, come amidst growing discussions within BRICS—an intergovernmental organization comprising Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates—regarding potential alternatives to the US dollar.
“The idea that the BRICS countries are trying to move away from the dollar, while we stand by and watch, is OVER,” Trump declared, signaling his firm stance on the matter. He further emphasized that BRICS countries should either abandon plans for a new currency or back the US dollar or face severe economic consequences.
Trump’s warning included a direct threat: “Or they will face 100% tariffs, and should expect to say goodbye to selling into the wonderful US economy.” He added, “They can go find another sucker nation. There is no chance that BRICS will replace the US dollar in international trade, or anywhere else, and any country that tries should say hello to tariffs, and goodbye to America!”
This marks the strongest opposition from Trump to the idea of BRICS creating a new currency or moving away from the US dollar. While Trump has long criticized such efforts, this statement takes a more aggressive tone. In December, Trump also cautioned BRICS nations against such moves, underlining his position on maintaining the dominance of the US dollar in global trade.
BRICS, formed in 2009, represents a growing economic bloc of nations. Russia and China, in particular, have pushed for reducing dependency on the US dollar, with some advocating for a BRICS-specific currency. However, India, a central member of BRICS, has repeatedly expressed opposition to such de-dollarisation efforts. External Affairs Minister S. Jaishankar reiterated in December that India was not in favor of de-dollarisation and there were no current plans to create a BRICS currency.
The BRICS bloc remains the only major international organization in which the United States does not participate. Despite Trump’s threats, BRICS members are likely to continue exploring alternatives to the US dollar as part of their broader economic strategies.
The article originally appeared on Financial Express.
