President-elect Donald Trump issued a warning on Saturday, threatening to impose 100% tariffs on BRICS nations if they attempt to undermine the US dollar’s global dominance. The warning targeted countries in the BRICS alliance—Brazil, Russia, India, China, South Africa, as well as other nations like Egypt, Ethiopia, Iran, the UAE, and countries like Turkey, Azerbaijan, and Malaysia, which have expressed interest in joining.
Trump emphasized in a post on Truth Social that these nations must commit to not creating a new BRICS currency or supporting any currency that could challenge the US dollar. If they do, he warned, they would face severe tariffs and lose access to the US market.
This comes after criticism from Russian President Vladimir Putin, who accused the US of “weaponizing” the dollar and pushing nations like Russia to seek alternatives. Russia has been promoting systems to bypass SWIFT, the global financial messaging network, in trade deals.
However, Trump firmly rejected the idea of the US dollar being replaced, stating that any country attempting to do so would face consequences in the US economy. He expressed confidence that the dollar would remain the dominant currency in global trade.
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