BRICS countries will face 100 per cent tariffs if they dare to create a new currency to replace the “mighty US dollar,” US President-elect Donald Trump said on his Truth Social network on Saturday.
Trump wrote on his social media platform Truth Social:
“We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty US Dollar or, they will face 100 per cent Tariffs, and should expect to say goodbye to selling into the wonderful US Economy.”
The Republican suggested that BRICS countries would not be able to replace the dollar in international trade, adding that any nation that tried to do so could “say goodbye to America.”
In October, at an extended session of the BRICS summit in Kazan, Russian President Vladimir Putin said that the association was not refusing or fighting the dollar, but emphasised that “if we are not allowed to work with it, what can we do: we are then forced to look for other alternatives.”
In late April, the media reported that Trump’s advisers are discussing the possibility of imposing sanctions against countries that refuse to use the US dollar in their foreign trade. These measures could include export controls, accusations of currency manipulation and the imposition of tariffs.
