US President Donald Trump has issued a stern warning to BRICS nations, stating that any effort to replace the US dollar as the global reserve currency will face severe repercussions. In a statement on Truth Social Thursday, Trump reiterated a threat from November 2024, pledging to impose 100 per cent tariffs on any BRICS country that seeks to challenge the dollar’s dominance.
“The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER. 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 or, they will face 100 per cent Tariffs, and should expect to say goodbye to selling into the wonderful US Economy. They can go find another sucker Nation. There is no chance that BRICS will replace the US Dollar in International Trade, or anywhere else, and any Country that tries should say hello to Tariffs, and goodbye to America!” posts US President Donald Trump (@realDonaldTrump) on social media platform Truth Social.
The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER. 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…
— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) January 31, 2025
Trump’s warning comes amid increasing discussions within the BRICS bloc—comprising Brazil, Russia, India, China, South Africa, and newer members like Egypt, Ethiopia, Iran, and the UAE. These countries have been exploring ways to lessen their dependence on the US dollar, especially following Western sanctions on Russia in response to its invasion of Ukraine.
Meanwhile, Canada and Mexico await his decision on whether to implement a 25 per cent tariff on their goods, set to take effect on February 1, 2025. These tariffs are part of his broader strategy to tackle illegal drug trafficking, particularly fentanyl, and reduce illegal immigration.
