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 1999-2025 Worthy News. This article was originally published on Worthy News and was reproduced with permission.
More Worthy News
With millions of Americans’ health insurance premiums projected to rise in 2026, due partially to enhanced Obamacare subsidies expiring, Republicans are eyeing health savings accounts as a solution.
President Donald Trump on Tuesday elevated Saudi Arabia to the status of a “major non-NATO ally,” a designation that significantly expands the military relationship between Washington and Riyadh during Crown Prince Mohammed bin Salman’s first White House visit in seven years.
The United States has begun a rapid diplomatic and operational drive to assemble the newly authorized International Stabilization Force (ISF) for Gaza, launching the effort mere hours after the UN Security Council overwhelmingly approved its deployment.
Israeli intelligence revealed Wednesday that a sweeping joint investigation with European security agencies has uncovered a network of Hamas-linked terror cells operating across Europe, with recent plots traced back to Qatar and possibly Turkey, where senior Hamas officials maintain political offices.
The White House is urging members of the U.S. Congress to reject a measure that would restrict the world’s most valuable semiconductor company’s ability to sell advanced artificial intelligence (AI) chips to Communist-run China and other adversary nations, according to people familiar with the matter.
Indonesian authorities say more than 900 residents were evacuated and 170 stranded climbers have now been brought to safety after Mount Semeru — one of the country’s tallest and most active volcanoes — erupted repeatedly on Wednesday.
U.S. President Donald J. Trump has signed legislation compelling his administration to release all classified files related to the late convicted sex offender Jeffrey Epstein, after mounting pressure from within his own Republican Party.