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 Israel Defense Forces said Thursday that it carried out an airstrike in the Zaita area of southern Lebanon, killing a Hezbollah operative involved in drone operations and terror activity along Israel’s northern border.
U.S. Secretary of State Marco Rubio is scheduled to meet with Danish officials next week amid renewed insistence from President Donald Trump that the United States must acquire Greenland to protect American national security interests in the Arctic.
President Donald Trump on Jan. 7 proposed raising U.S. military spending to $1.5 trillion in 2027, a dramatic increase he said is necessary to secure the nation amid what he described as “very troubled and dangerous times.”
U.S. President Donald J. Trump faced an unprecedented rebuke from the Republican-controlled Senate late Thursday after lawmakers advanced a war powers resolution aimed at limiting his authority to conduct military operations in or against Venezuela without congressional approval.
Thousands of Iranians poured into the streets and shouted from rooftops across Tehran and other cities Thursday night following a call for mass demonstrations by exiled crown prince Reza Pahlavi, marking a significant escalation in nationwide unrest gripping the Islamic Republic. Witnesses reported widespread chanting and street rallies as authorities abruptly shut down internet access and disrupted phone lines shortly after protests began.
The U.S. House of Representatives passed a bill to extend Affordable Care Act subsidies for another three years.
President Donald Trump said Thursday afternoon that the federal government will buy $200 billion in mortgage bonds to bring down interest rates and monthly payments.