Trump threatens tariffs on BRICS over currency challenge
Donald Trump has threatened BRICS countries with 100% tariffs if they replace the US dollar as the reserve currency. "We are going to require a commitment from these seemingly hostile Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar," he wrote. He directed similar threats toward Canada and Mexico.
US President Donald Trump warned BRICS countries of 100% tariffs if they decide to replace the US dollar as the reserve currency. This information was reported by the "DW" service. Trump expressed a similar stance after winning the elections in November 2024.
On the Truth Social platform, Trump wrote: "We are going to require a commitment from these seemingly hostile 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."
BRICS, which includes Brazil, Russia, India, China, and South Africa, is considering introducing a new reserve currency, which gained significance after the sanctions imposed on Russia.
Trump also announced 25% tariffs on imports from Canada and Mexico, which are set to take effect on Saturday at 8:00 AM EST. This decision is tied to an attempt to curb illegal immigration and the smuggling of chemicals used in the production of fentanyl.
Trump is also considering imposing tariffs on oil from these countries, depending on price fairness.
