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
The U.S. Supreme Court on Monday handed President Donald Trump a significant victory in his effort to tighten federal election safeguards, lifting a lower-court injunction that had blocked parts of his executive order addressing mail-in voting ahead of November’s midterm elections.
The Trump administration on Monday launched what Treasury Secretary Scott Bessent called an unprecedented global economic offensive against Iran, unveiling a sweeping sanctions campaign designed to sever Tehran from the international financial system and choke off revenue flowing to the Islamic Revolutionary Guard Corps and the Iranian regime.
The Trump administration formally removed Syria from the U.S. list of State Sponsors of Terrorism on Monday, ending a designation that had been in place since 1979 and opening the door for broader foreign investment and Syria’s reintegration into the international financial system.
European leaders rallied around Ukrainian President Volodymyr Zelenskyy in Kyiv on Monday as Ukraine marked 35 years of independence and its fifth Independence Day since Russia’s full-scale invasion, while senior representatives of the administration of U.S. President Donald J. Trump were notably absent.
Ukrainian President Volodymyr Zelenskyy has warned that holding elections in wartime, as suggested by his former defense minister, would “destroy” the country.
The European Union marked Ukraine’s Independence Day by pledging to provide the war-torn nation with 6.1 billion euros ($7.1 billion) for “air and missile defense systems” as well as other “missiles, ammunition and radars.”
British Prime Minister Andy Burnham accused Russia on Monday of “outrageous threats” against the United Kingdom after Moscow warned that his decision to provide Ukraine with newly declassified blueprints for the production of long-range missiles would escalate the war.