'100% tariff': Trump warns BRICS nations against replacing US Dollar
1. He threatened that failure to comply would result in 100% tariffs on their goods
US President-elect Donald Trump on Saturday demanded that BRICS nations pledge not to create a new currency or support any alternatives to the US dollar, warning of severe tariffs if they do, according to Reuters.
“We need a commitment from these countries that they will neither establish a new BRICS currency nor endorse any other currency to replace the mighty US dollar. If they do, they will face 100% tariffs and can kiss goodbye to selling into the wonderful US economy,” Trump wrote on his Truth Social account.
He added, “They can find another ‘sucker.’ There is no way the BRICS will replace the US dollar in international trade, and any country attempting to do so should say goodbye to America.”
Brazil and Russia have been at the forefront of discussions about creating a new currency to reduce the US dollar’s dominance, but progress has stalled due to internal disagreements within the BRICS group.
Trump’s comments are seen by some of his allies as part of a negotiation tactic. Republican Senator Ted Cruz defended the use of tariffs, citing their success in previous negotiations. “Look at the threat of tariffs against Mexico and Canada—it immediately produced action,” Cruz said on CBS News’ Face the Nation on Sunday.
