Official announcements from BRICS nations or credible financial news outlets

President-elect Trump Warns BRICS Nations: 100% Tariffs for Replacing 'Mighty US Dollar'

Nov 30, 2024, 08:08 PM

President-elect Donald Trump has issued a stern warning to BRICS nations and their expanded group regarding efforts to move away from the US dollar in international trade. In a Truth Social post dated November 30, 2024, Trump threatened to impose 100% tariffs on countries that attempt to create a new currency or support an alternative to the dollar. He demanded a commitment from BRICS members—Brazil, Russia, India, China, South Africa—and additional nations such as Egypt, Ethiopia, Iran, and the United Arab Emirates to neither establish a new currency nor back any other currency that could replace the 'mighty US dollar.' Trump asserted that there is 'no chance that BRICS will replace the US dollar in international trade,' and warned that nations challenging US currency dominance 'can go find another "sucker".' He cautioned that any nation attempting to undermine the US dollar should 'wave goodbye to America' and expect significant economic consequences, including tariffs and restricted access to the US market.