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Donald Trump’s 100% Tariff Warning to BRICS Nations Over Dollar Replacement Plans
Former U.S. President Donald Trump has once again voiced strong opposition to any plans by BRICS nations to create an alternative currency that could challenge the dominance of the U.S. dollar. In a recent statement on social media, Trump threatened to impose a 100% tariff on BRICS member countries if they pursued efforts to replace the dollar in international trade.
Trump’s Warning to BRICS Nations
On January 30, Trump reiterated his stance, making it clear that any country attempting to introduce a new BRICS currency or back an alternative to the U.S. dollar would face severe economic consequences.
"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. If they do, they will face 100% tariffs and should expect to say goodbye to selling into the wonderful U.S. economy," Trump stated on X (formerly Twitter).
He further emphasized that no country should expect to replace the dollar without consequences, warning, “Any country that tries should say hello to tariffs and goodbye to America!”
What is BRICS?
BRICS is an economic alliance formed in 2009, initially consisting of Brazil, Russia, India, China, and South Africa. Over time, the group has expanded to include Iran, Egypt, Ethiopia, and the United Arab Emirates (UAE). Unlike Western economic coalitions, BRICS does not include the United States, which has led to concerns in Washington about its growing influence in global finance.
Efforts to Reduce Reliance on the U.S. Dollar
For years, some BRICS nations—especially China and Russia—have sought ways to reduce dependence on the dollar in international trade. The idea of a new BRICS currency has been discussed as part of a broader strategy to counter U.S. financial dominance.
However, India has largely distanced itself from such efforts. Last month, the Reserve Bank of India (RBI) Governor Shaktikanta Das clarified that India is not taking any steps toward de-dollarization. Instead, the country is focusing on minimizing risks in domestic trade due to geopolitical uncertainties.
"De-dollarization is not on the table for India," Das stated, reaffirming the nation’s stance.
Implications of Trump's Tariff Threat
If Trump follows through on his threat, BRICS nations could face significant economic challenges in their trade relations with the U.S. Currently, China, India, and Brazil are key exporters to the American market. A 100% tariff on their goods would make trade more expensive and could lead to a shift in global economic dynamics.
While some BRICS nations are actively seeking financial independence from the dollar, Trump's warning indicates that the U.S. will not allow such a shift without retaliation.
The debate over the future of global currency dominance continues, but for now, the U.S. dollar remains the backbone of international trade.
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