By Stefan J. Bos, Chief International Correspondent Worthy News
WASHINGTON (Worthy News) – U.S. President-elect Donald Trump warned Saturday that he would impose 100 percent tariffs on imports from BRICS countries if they threaten the U.S. dollar as the world’s reserve currency.
BRICS, the intergovernmental group of nine nations, including its founders Brazil, Russia, India, China, and South Africa, as well as newcomers Iran, Egypt, Ethiopia, and the United Arab Emirates, is considering its own currency to challenge the greenback’s dominance.
“The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER,” Trump stressed in a statement on his Truth Social media network.
“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,” he added.
The BRICS nations discussed the issue of de-dollarization at a summit last year.
The backlash against the dollar’s dominance gained traction in 2022 amid the U.S.-led efforts to impose economic sanctions on Russia following its full-scale invasion of Ukraine.
MORE TARIFFS
Trump suggested he could extend the tariffs policy to other countries, saying earlier this year that he “would not allow countries to go off the dollar” as it would be “a hit to our country.”
Separately, Trump already announced he would impose a 25 percent tariff on all products from Mexico and Canada and an additional 10 percent tariff on goods from China on his first day in office in January.
Canadian Prime Minister Justin Trudeau met with Trump on Friday to discuss trade and border issues to ease tensions between the two allied nations after the tariff threat.
Yet it remained unclear whether Trump would back down.
Trump’s talks on tariffs rattled sectors of financial markets, with shares of U.S. and European automakers dropping last week.
Critics say the Trump tariffs threaten the automobile industry’s supply chains and raise investor concerns about higher costs.
Copyright 1999-2026 Worthy News. This article was originally published on Worthy News and was reproduced with permission.
More Worthy News
Ukrainian authorities said Thursday at least 16 people were killed and about 40 injured in massive overnight Russian drone and missile strikes on Kyiv and the wider region, while neighboring countries were placed on high alert amid reports of drones entering or approaching their territory.
Hungarian Prime Minister Péter Magyar is accelerating efforts to dismantle the political and economic system built during Viktor Orbán’s 16 years in power, targeting alleged corruption and cronyism while facing warnings that restoring the rule of law should not lead to another concentration of power.
Pakistani Christians have expressed concern after Pakistan’s Supreme Court released details of its decision to acquit the last three men sentenced to death over the 2014 mob killing of a Christian couple who were beaten and burned alive in a brick kiln following blasphemy allegations.
Israeli Prime Minister Benjamin Netanyahu issued a blunt warning to Turkey on Wednesday after Israel struck a Syrian military airbase that Jerusalem says Ankara was preparing to use for an expanded military presence in Syria.
Democratic socialist Angie Nixon scored a surprise victory Tuesday in Florida’s Democratic U.S. Senate primary, defeating heavily funded establishment favorite Alex Vindman and adding to a growing series of socialist and far-left victories reshaping Democratic politics across the country.
The United States government passed a sobering milestone Wednesday as the national debt topped $40 trillion, up from $39 trillion only five months ago.
The U.S. Department of Justice plans to deploy approximately 1,000 federal election monitors across the country for November’s midterm elections, marking what officials say will be a record-sized monitoring operation.