US president Donald Trump has issued yet another stern warning to the BRICS nations in the face of their continued push to introduce an alternative currency for international trade in a bid to reduce reliance on the US dollar as the dominant currency for global transactions.
The BRICS nations — Brazil, Russia, India, China, and South Africa — have been actively working toward de-dollarization, seeking to establish a more centralized trade system that is less dependent on the greenback as the world’s reserve currency. In response, the US leader has reiterated his threat to impose 100% tariffs on these countries if they attempt to create or support an alternative to the dollar. “If BRICS nations try to replace the US dollar, there will be severe consequences, including 100% tariffs,” Trump stated on Truth Social, his social media platform.
The US president stressed that the greenback must remain the dominant currency in global trade and insisted that BRICS countries must commit to not bypass or replace it with a new currency. “The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER,” Trump added. But while BRICS nations have for years explored ways to reduce dependence on the US dollar, “BRICS has never discussed launching a common currency,” Russian government spokesman Dmitry Peskov has recently clarified. He also suggested that president Trump may not fully understand BRICS’ objectives, which focus “on economic cooperation and investment platforms.”