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
Jerusalem will host a high-level trilateral summit on Monday as Israel, Greece, and Cyprus move to deepen security, energy, and strategic cooperation amid growing concern over Turkey’s expanding military posture in the eastern Mediterranean.
In an emotionally charged appeal, Israel’s opposition leader Yair Lapid urged Jews worldwide not to surrender to hatred after at least 15 people were killed and dozens injured in what officials and Jewish leaders described as one of the deadliest antisemitic attacks against Jews abroad in years.
The U.S. military carried out massive air and drone strikes against more than 70 Islamic State (ISIS) targets across central and eastern Syria, U.S. officials said, following a deadly December 13 attack on American personnel.
The president of war-torn Ukraine says the United States has proposed a format for peace talks that would place Ukraine and Russia at the same table — but he doubts such a meeting would bring real progress.
Budget watchdogs are sounding the alarm as the U.S. hit an unfortunate fiscal milestone in fiscal year 2025: government spending on debt interest payments alone topped $1 trillion this year.
The U.S. Department of Health and Human Services’ action to bar “sex-rejecting” transgender procedures for minors has met with approval from groups that aim to protect children from harmful ideology, with some calling the move “long overdue,” stating that taxpayers should not be forced to pay for procedures that lack proven benefits.
After hours of tense negotiations, European Union leaders agreed to provide Ukraine with a 90 billion euro loan (about $100 billion) to meet the wartorn nation’s urgent financial needs. However, they failed to reach a consensus on whether the loan should be secured using Russia’s frozen assets held in Europe.