POTUS threatens BRICS with 100% tariffs, warns De-dollarization

By Anjali Sharma

WASHINGTON – President Donald Trump on Friday has said that BRICS nations must maintain the US dollar’s role in global trade or face economic consequences.

He expressed his stance against de-dollarization vehemently, Trump warned BRICS nations and threatened them with 100 per cent tariffs on their exports if they try to replace the US dollar as the main currency in global trade.

The news reports stated that warning is a repeat of the one that he made on November 30, weeks after winning the 2024 election.

In a post President Trump wrote, “The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER.”

“We are going to require a commitment from these seemingly hostile 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,” media said quoting a post by the US President.

Trump wrote in his post on Friday that “They can go find another sucker Nation. There is no chance that BRICS will replace the US Dollar in International Trade, or anywhere else, and any Country that tries should say hello to Tariffs, and goodbye to America”.

BRICS group of nations have been mulling ways to reduce dependence on the American dollar.

The bloc does not have a common currency as of now, its member nations that include Brazil, Russia, India, China, and South Africa have been of late promoting trade in their local currencies, the report said.

Russia called for de-dollarization at the 15th BRICS Summit in 2023 and the move gained momentum at the June 2024 BRICS foreign ministers’ meeting in Russia, where member states advocated for using local currencies in bilateral and multilateral trade, the report said.

It added that despite de-dollarization bids and America’s push against it, the fact remains that the US dollar remains the world’s dominant reserve currency and President Trump intends to ensure that, even if it means arm-twisting nations by using the threat of crippling tariffs.