Trump Threatens To Impose 100% Tariff On BRICS Nations If They Replace U.S Dollar

President-elect, Donald Trump has warned the BRICS nations that they will face a 100% tariff if they attempt to replace the US dollar.

Donald Trump was referring to the BRICS countries, which include Brazil, Russia, India, China, Nigeria and South Africa, among others.

This statement follows discussions at a BRICS summit held in Kazan, Russia, where the group considered expanding non-dollar transactions and supporting local currencies.

Since its formation in 2009, BRICS has grown to include nations like Iran, Egypt, and the United Arab Emirates, making up a significant portion of the global economy.

During the Kazan summit in October, Moscow pushed for stronger banking connections among BRICS countries and encouraged using local currencies for transactions through the BRICS Cross-Border Payments Initiative.

However, Russian President Vladimir Putin made it clear that no significant progress had been made toward creating an alternative to the SWIFT international payment system, nor were they currently planning to create a unified BRICS currency.

Trump, who has championed protectionist policies, warned that if BRICS nations follow through with their plans, they could lose access to the US market.

Taking to his X page, he tweeted, “The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER.

“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 idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER. 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…

— Donald J. Trump (@realDonaldTrump) November 30, 2024

KanyiDaily had also reported that Donald Trump planning to sign an executive order banning transgender individuals from serving in the military on his first day in office.