Official announcements from BRICS summits or major financial news outlets

President-elect Trump Warns BRICS of 100% Tariffs over Currency Plans

Nov 30, 2024, 06:21 PM

President-elect Donald Trump has warned that BRICS nations—Brazil, Russia, India, China, and South Africa—will face 100% tariffs and restricted access to the US market if they attempt to create a new currency to replace the US dollar. In an announcement on Truth Social, Trump demanded a commitment from these countries that they will neither create a new BRICS currency nor support any other currency to supplant the US dollar, stating, "They can go find another 'sucker'." He emphasized, "There is no chance that the BRICS will replace the U.S. Dollar in international trade." Trump's hardline stance aims to prevent the de-dollarization efforts by the BRICS nations and uphold the dominance of the US dollar in global trade.