Tariffs Loom Over BRICS Currency Plans

Former U.S. President Donald Trump issued a stark warning to BRICS nations on Thursday, threatening 100% trade tariffs if the bloc advances plans to establish its own currency and move away from the U.S. dollar.

In a post on Truth Social, Trump stated, “There is no chance that BRICS will replace the U.S. dollar in international trade. Any country attempting this should expect tariffs and say goodbye to selling into the U.S. economy.”

The BRICS group, comprising nations like Brazil, Russia, India, China, and South Africa, along with new members including Saudi Arabia and Iran, has frequently discussed creating a unified currency to challenge dollar dominance. However, this idea has yet to materialize.

Trump’s tariff threats follow his established use of trade measures to pursue his political goals, as demonstrated by his upcoming 25% tariffs on Canadian and Mexican goods.