PALM BEACH, Fla. — Former President Donald J. Trump warned on social media Saturday that the United States would impose “100% tariffs” on BRICS nations if they pursue efforts to create or adopt a new currency aimed at challenging the U.S. dollar’s dominance in international trade.
“The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER,” Trump wrote in a post on his social media platforms. “We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar.”
BRICS, an economic bloc comprising Brazil, Russia, India, China, and South Africa, has discussed initiatives to reduce reliance on the dollar, including the possibility of introducing a new currency for trade among member nations. The group’s efforts have drawn scrutiny from U.S. policymakers concerned about the potential weakening of the dollar’s role in global markets.
Trump also warned that any nation within the BRICS bloc that moves forward with such plans should “expect to say goodbye to selling into the wonderful U.S. Economy.”
The BRICS bloc has yet to announce any definitive plans for a unified currency, though its leaders have previously emphasized a desire for greater financial autonomy.