Official announcements from BRICS nations or reliable news sources

Trump Threatens 100% Tariffs on BRICS Nations Over New Currency Plans, Warning of Supply Chain Impact and Cost Increases

Dec 1, 2024, 08:16 AM

Former President Donald Trump has issued a stark warning to BRICS nations, threatening to impose a 100% tariff on member countries if they pursue the creation of a new currency as an alternative to the U.S. dollar. This move is seen as an effort to maintain the dollar's dominance in international trade. Experts predict that Trump's proposed tariffs could significantly impact supply chains and increase costs for American consumers. The threat comes amidst ongoing discussions among BRICS nations regarding their financial independence from the U.S. dollar, with Trump demanding commitments from these countries to refrain from establishing a new currency. His comments have sparked concerns about the potential economic repercussions for both the U.S. and BRICS nations, as the tariffs could lead to higher prices for goods and services in the U.S. market.