Trump threatens 100-percent tariffs on BRICS countries over efforts to ‘replace the mighty U.S. Dollar’
U.S. President Donald Trump has threatened 100-percent tariffs on BRICS countries over their efforts to create a new currency and move away from the U.S. dollar.
Trump said the United States would demand that the “seemingly hostile Countries” in BRICS pledge not to establish a new currency or support any alternative to replace the “mighty U.S. Dollar.” Otherwise, “they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy,” he wrote on Truth Social.
He added that there was “no chance” BRICS could “replace the U.S. Dollar in International Trade, or anywhere else” and that any country attempting to do so should “say hello to Tariffs, and goodbye to America.”
The idea of a common currency was discussed at the 2023 BRICS summit in Johannesburg. Officials said its purpose would be to simplify trade and project financing while reducing dependence on the dollar and euro in global transactions.
In October 2024, Russian President Vladimir Putin told BRICS media leaders that the bloc was “not yet considering” a shared currency, saying the idea had “not matured yet.” He said member states were instead looking at ways to expand the use of national currencies in trade.
Trump made a similar threat in November 2024, shortly after winning the U.S. presidential election, using nearly identical language. “They can go find another ‘sucker’. There is no chance that the BRICS will replace the U.S. Dollar in International Trade,” he wrote at the time.
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