Donald Trump has issued a stern warning to BRICS nations, threatening to impose 100% tariffs if they attempt to replace the US dollar with an alternative currency. This warning comes as BRICS countries, including Brazil, Russia, India, China, and South Africa, explore ways to reduce their reliance on the US dollar .
Trump's statement on Truth Social emphasized that the US will require a commitment from BRICS nations that they won't create a new currency or support any alternative to the US dollar. Failure to comply would result in 100% tariffs and loss of access to the US market .
This warning is part of a broader debate on de-dollarization, which aims to reduce the US dollar's dominance in global trade. BRICS nations have been discussing alternatives, including a shared currency, to facilitate trade within the bloc and shield their economies from US sanctions and monetary policies .
Experts view Trump's warning as an act of economic warfare against developing countries, which could limit their economic independence and export capabilities. The situation highlights the complex dynamics of global trade and the ongoing struggle for economic influence between nations.