Trump warns BRICS nations against replacing US Dollar
He threatened that failure to comply would result in 100% tariffs on their goods
December 02, 2024
US President-elect Donald Trump issued a strong warning to BRICS nations on Saturday, demanding they pledge not to create a new currency or back any effort to replace the US dollar, Reuters reported.
He threatened that failure to comply would result in 100% tariffs on their goods.
“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% tariffs, and should expect to say goodbye to selling into the wonderful US economy,” Trump wrote on his Truth Social platform.
He added: “They can go find another ‘sucker.’ There is no chance that the BRICS will replace the US dollar in international trade, and any country that tries should wave goodbye to America.”
Some BRICS leaders, notably from Brazil and Russia, have discussed creating a new currency to reduce the US dollar’s dominance in global trade. However, internal disagreements have hampered these efforts.
Trump’s comments have raised speculation that his tough stance may be part of a broader negotiation strategy. Republican Senator Ted Cruz, when asked about Trump’s tariff proposals, highlighted the strategic use of leverage. “You look at the threat of tariffs against Mexico and Canada, immediately [it] produced action,” Cruz said on CBS News' Face the Nation on Sunday.
