Trump Threatens 100% Tariffs on BRICS: A Stand Against Dollar Alternatives

President-elect Donald Trump recently threatened the BRICS group of emerging markets with 100% tariffs if they attempt to move away from the US dollar. The BRICS includes Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, and the United Arab Emirates. These countries are actively trying to increase their economic influence while the US dollar remains the dominant global reserve currency.

Trump expressed his concerns on his Truth Social platform, stating that the US will not allow BRICS nations to abandon the dollar without consequences. He demanded that they avoid creating a new currency or supporting an alternative to the US dollar, or they will face significant tariffs that could impact their ability to sell goods in the US market.

He mentioned that if countries tried to replace the dollar, they should “wave goodbye to America.” Trump’s comments came shortly after he discussed tariffs on imports from Canada, China, and Mexico, addressing issues related to drug trafficking and illegal immigration.

During a recent BRICS summit, Russian President Vladimir Putin claimed that the US was “weaponizing” the dollar and stated that Russia was forced to look for alternatives due to American restrictions.

In response, Canadian Prime Minister Justin Trudeau emphasized the importance of the US-Canada relationship, stating that tariffs would be detrimental to both countries. Recently, he had a positive discussion with Trump about trade issues. Mexican President Claudia Sheinbaum also assured that a tariff war with the US would not occur.