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
American churches and mission groups are preparing to bring millions of Bibles and other Christian literature into Iran despite the ongoing war in the region, Christians familiar with the plans say.
An Iranian Christian convert who fled a deadly crackdown on anti-government protests in early January says he plans to return to his homeland as a fighter, underscoring growing concerns over the safety of minority Christians amid the ongoing U.S.-Israeli war against the Islamic Republic.
Iran said early Thursday it has no plan to hold negotiations with the United States, rejecting Washington’s claims of ongoing talks, as the nearly month-long U.S.-Israeli war against Tehran continued to rattle the Middle East and global markets.
Iran’s sweeping internet blackout has entered its fourth week, leaving millions of civilians cut off from global communications as the conflict with the United States and Israel intensifies.
The United States has surpassed 10,000 strikes on Iranian targets since launching Operation Epic Fury on Feb. 28, marking a major milestone in the ongoing military campaign, according to U.S. Navy Adm. Brad Cooper, commander of U.S. Central Command.
President Donald Trump said Wednesday he is considering calling up the National Guard to assist federal agents at airports as long lines and delays intensify during the ongoing partial government shutdown.
Video has emerged showing protesters booing and chasing away Anthony Albanese and Australia’s Home Affairs Minister Tony Burke at the nation’s largest mosque after the government banned an Islamist group following a recent massacre of Australian Jews.