Trump threatens a 100% tariff on BRICS countries if they abandon U.S. dollar
In a post on Truth Social Saturday, President-elect Donald Trump said he would impose a 100% tariff on the BRICS geopolitical coalition of non-Western countries if the group moves away from trading using the U.S. dollar.
In a post on Truth Social Saturday, President-elect Donald Trump said he would impose a 100% tariff on the BRICS geopolitical coalition of non-Western countries if the group moves away from trading using the U.S. dollar.
“The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER,” Trump wrote. “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.”
“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,” the president-elect added.
The BRICS alliance is a coalition of non-Western countries that convened for the first official BRIC summit in 2009, with Brazil, Russia, India and China joining the informal group. South Africa joined a year later, cementing the BRICS name.
At a 2023 summit, the group expanded for the first time in over a decade, inviting Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates.
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