President-elect Donald Trump has issued a stern warning to BRICS nations, threatening a 100% tariff if they proceed with plans that could undermine the US dollar. Writing on his Truth Social platform, Trump demanded a pledge from the bloc—comprising Brazil, Russia, India, China, South Africa, and others—to abandon any efforts to create a BRICS currency or support alternatives to the dollar. Failure to comply, he said, would result in severe trade penalties.
The warning follows the recent BRICS summit in Kazan, Russia, where members discussed bolstering non-dollar transactions and enhancing local currencies. While the group agreed to strengthen correspondent banking networks and promote local currency settlements through the BRICS Cross-Border Payments Initiative, Russian President Vladimir Putin clarified that no immediate plans for a unified BRICS currency or an alternative to the SWIFT system are underway.
Trump reiterated his protectionist stance, cautioning BRICS nations against challenging the US dollar’s dominance in international trade. He declared, “Any country attempting to replace the US dollar should expect to lose access to the incredible US economy.”
The BRICS bloc, which now includes nations like Iran, Egypt, and the UAE, represents a growing share of global economic activity but has yet to finalize significant monetary initiatives.
