Former U.S. President Donald Trump has threatened steep trade tariffs on BRICS nations if they pursue plans to create their own currency, moving away from the U.S. dollar. Trump warned that any such attempt would result in a 100% tariff on exports to the United States, effectively shutting them out of the U.S. economy.
“There is no chance that BRICS will replace the U.S. dollar in international trade or anywhere else,” Trump stated on Truth Social. “Any country that tries should say hello to tariffs and goodbye to America!”
The BRICS alliance—comprising Brazil, Russia, India, China, South Africa, Saudi Arabia, Egypt, the UAE, Ethiopia, Iran, and Indonesia—has long discussed launching an alternative currency to challenge dollar dominance in global trade. However, despite repeated efforts, no such currency has been implemented. The initiative has also faced scrutiny from U.S. lawmakers, who view it as a threat to the dollar’s global standing.
Trump has consistently used tariff threats as a tool to enforce his economic policies. His latest move comes as he prepares to impose 25% tariffs on Canada and Mexico starting Saturday.
The former president’s stance underscores the growing tensions between the U.S. and BRICS nations, as economic alliances shift amid efforts to reduce dependence on the dollar. With global trade dynamics evolving, the impact of these potential tariffs could be significant, affecting supply chains and international markets.
As BRICS continues exploring de-dollarization, the U.S. is closely monitoring developments, signaling strong resistance to any challenge to the dollar’s supremacy.