Washington, D.C. – United States President-elect Donald Trump has warned BRICS nations against plans to replace the U.S. dollar in global trade, threatening 100% tariffs on their exports to the United States.
Writing on Truth Social, Trump demanded a commitment from the group—comprising Brazil, Russia, India, China, and South Africa—that they would not pursue a common currency or support any alternative currency for international trade.
“The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER. 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. They can go find another ‘sucker!’” Trump said on Truth Social.
Trump added that any country that attempts to replace the US dollar in international trade will “wave goodbye to America.”
Russian President Vladimir Putin, however, has downplayed the possibility of a BRICS currency. During a recent address, he stated that such a move requires deeper economic integration among member states, a goal not yet feasible.
Putin highlighted that 88% of Russia’s trade with BRICS countries already uses national currencies, reflecting a shift away from the dollar but without the need for a unified currency.
The threat from Trump signals a potential escalation in the geopolitical and economic competition between the United States and the BRICS bloc, which has been exploring ways to reduce dependency on the dollar in trade and finance.