Official BRICS announcements or major financial news outlets

Trump, as 47th President, Threatens 100% Tariffs on BRICS Nations Post-Inauguration Over De-Dollarization

Jan 21, 2025, 09:50 AM

Following his inauguration as the 47th President of the United States, Donald Trump has announced plans to impose a 100% tariff on business transactions between the U.S. and BRICS nations if they continue their efforts towards de-dollarization. This statement was made during his signing ceremony at the Oval Office, emphasizing that the move is not a threat but a clear stance on the issue. Trump also mentioned previous comments by former President Joe Biden, asserting that the U.S. holds leverage over the BRICS nations and that they would not be able to proceed with their plans to reduce the use of the dollar in global trade. Before his inauguration, Trump had threatened BRICS countries over the imposition of 100% tariffs on all imports from those countries, a warning he initially shared on his Truth Social network. The BRICS group, comprising Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Indonesia, and the United Arab Emirates, has been discussing the creation of a new global currency to challenge the dominance of the U.S. dollar.