United States President-elect, Donald Trump, issued a stark warning to the BRICS nations on Saturday, vowing to impose 100% tariffs on their goods if they pursue efforts to diminish the role of the U.S. dollar in global trade.
In a post on his Truth Social platform, Trump responded to initiatives aimed at challenging the dollar’s dominance as the world’s primary reserve currency.
“The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER,” Trump wrote. “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 U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy. They can go find another ‘sucker!’ There is no chance that the BRICS will replace the U.S. Dollar in International Trade, and any Country that tries should wave goodbye to America.”
The BRICS group—comprising Brazil, Russia, India, China, and South Africa—recently expanded to include Egypt, Ethiopia, Iran, and the UAE. With these additions, the alliance now accounts for 45% of the global population. Other nations, including Turkey, Azerbaijan, and Malaysia, have also applied for membership.
At an October BRICS summit, Russian President Vladimir Putin accused the United States of “weaponizing” the dollar, calling it a “big mistake,” according to the Associated Press.
Trump’s tariff threats have drawn scrutiny both domestically and internationally. Tariffs, which act as taxes on imported goods, often lead to higher prices for consumers as importers typically pass on the additional costs. In his first term, Trump’s use of tariffs created tensions with major U.S. trading partners, and studies showed the economic burden largely fell on American households.
Experts warn that Trump’s broader tariff plans could increase inflation and slow economic growth in the United States. Goldman Sachs recently projected that such measures could raise inflation by up to 1.2% in 2025.
Beyond the BRICS nations, Trump has also threatened tariffs against Mexico, Canada, and China if they fail to cooperate on addressing issues like illegal immigration and the fentanyl crisis. Trump proposed levies of 25% on imports from Mexico and Canada and 10% on goods from China.
In recent days, Trump held talks with Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau about the proposed tariffs. Both leaders described the discussions as constructive, though Trudeau left Mar-a-Lago on Saturday without assurances that Canada would be spared.
