Trump has warned the BRICS group of emerging economies that they will face 100% tariffs if they move away from the U.S. dollar as an international means of payment. The BRICS group, originally consisting of Brazil, Russia, India, China, and South Africa, expanded in early 2024 to include Iran, Ethiopia, Egypt, and the United Arab Emirates.
Posting on his social media platform Truth Social, Trump declared, “The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER.” He emphasized that the U.S. will require a commitment from these nations not to create a new BRICS currency or support any alternative to the U.S. dollar.
“If not, they will face 100 per cent Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy,” Trump warned.
