US President Donald Trump has threatened to impose 100% tariffs on BRICS nations if they move forward with the creation of a new currency.
In a post on Truth Social, Trump expressed his strong opposition to any efforts by BRICS countries to move away from the US dollar. He stated, “The idea that BRICS countries are attempting to abandon the dollar is over. We will demand that these countries commit to not creating a new currency or backing any alternative to the US dollar, or they will face 100% tariffs and will be shut out of the US market.”
Trump further emphasized that he believes the US dollar cannot be replaced in international trade, adding, “They can try, but there is no way BRICS will replace the US dollar in global trade. Any nation that attempts this will face heavy tariffs and lose access to the US economy.”
Reports have suggested that BRICS countries have discussed the possibility of expanding trade in national currencies and even creating a shared currency within the bloc, but no concrete decisions have been made on this matter.
BRICS, originally formed in 2006 by Russia, China, India, and Brazil, was later joined by South Africa in 2011. Since 2024, several additional nations have joined the group.
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