US President-elect Donald Trump took a firm stand against the possibility of BRICS nations — Brazil, Russia, India, China, and South Africa — establishing a new currency or backing alternatives to the US dollar. The warning came via Trump’s social media platform, Truth Social, on Saturday, where he threatened that any such moves would result in a staggering 100% tariffs on their exports to the United States.
“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 asserted. The statement underlines the former president’s unwavering belief in the supremacy of the dollar in international trade, a stance that could have significant ramifications for the evolving economic landscape.
In an unmistakable show of defiance, Trump emphasised, “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.” This uncompromising rhetoric not only reflects Trump’s intentions to protect US economic interests but also points towards a potential escalation in trade tensions should BRICS nations move forward with alternative currency initiatives.
Amidst these stern warnings, Trump also lauded the outcome of a recent meeting with Canadian Prime Minister Justin Trudeau, describing it as “very productive.” The discussions swung from trade to energy and focused heavily on addressing the border-related issues that have increasingly concerned both nations. In particular, they highlighted the urgent need to combat the Fentanyl and drug crisis that has profoundly impacted countless US families due to illegal immigration.
“We discussed many important topics that will require both countries to work together to address, like the Fentanyl and drug crisis that has decimated so many lives,” Trump stated, conveying a message of hope for collaborative efforts. He further indicated that Trudeau has committed to working alongside the US to combat this severe challenge, as well as reinforcing fair trade practices that would protect American workers.
The intersection of economic policy and international diplomacy remains a focal point as Trump prepares to assume office once again, and his statements signal a potential shift in how the US engages with both allies and adversaries in the future. As BRICS nations continue to navigate their own economic strategies, they may now be forced to reckon with the implications of Trump’s robust stance on currency and trade.