Trump Threatens Tariffs on BRICS Nations If They Move Away From US Dollar
by Karen Faulkner, Worthy News Correspondent
(Worthy News) – US President Donald Trump has threatened to slap tariffs on the BRICS 10-member-state intergovernmental organization if the group seeks to replace the American dollar with a new reserve currency, the Hill reports. Trump’s announcement follows fresh on the heels of his decision to impose tariffs on China, Mexico, and Canada starting February 1.
Not part of the G7, BRICS originally comprised Brazil, Russia, India, China, and South Africa but has expanded to include Egypt, Ethiopia, Iran, the United Arab Emirates, and Indonesia.
The BRICS group held discussions over the possibility of creating their own currency system during a summit in Russia in October, but Moscow has since said there are no plans to create a common currency, the Hill reports.
“The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER,” Trump wrote on his Truth Social platform Thursday.
“We are going to require a commitment from these seemingly hostile 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.”
“They can go find another sucker Nation. There is no chance that BRICS will replace the U.S. Dollar in International Trade, or anywhere else, and any Country that tries should say hello to Tariffs, and goodbye to America,” Trump added on Friday.
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