Trump Reiterates Tariff Threat Against BRICS Nations Over Dollar Replacement Attempts

U.S. President Donald Trump has once again issued a stark warning to the BRICS economic bloc, threatening severe trade penalties if they pursue efforts to reduce reliance on the U.S. dollar.

In a statement on Truth Social, echoing one he made on November 30, Trump vowed economic retaliation should these “seemingly hostile countries” attempt to undermine the dollar’s global dominance. “The idea that the BRICS countries are trying to move away from the dollar, while we stand by and watch, is over,” he declared.

The BRICS alliance, initially comprising Brazil, Russia, India, China, and South Africa, has expanded to include Egypt, Ethiopia, Iran, and the United Arab Emirates. Several other nations, including Turkey, Azerbaijan, and Malaysia, have expressed interest in joining.

Trump, who previously imposed tariffs on Canada and Mexico, asserted that BRICS nations must pledge not to introduce a new currency or bolster existing ones to rival the dollar. Failure to comply, he warned, would lead to 100% tariffs on their exports to the U.S. and potential exclusion from the American market.

“We are going to require a commitment from these seemingly hostile countries that they will neither create a new BRICS currency nor back any other currency to replace the mighty U.S. dollar. Otherwise, they will face 100% tariffs and should expect to say goodbye to selling into the wonderful U.S. economy,” he stated.

He further reinforced his stance, saying, “They can go find another sucker nation. There is no chance that BRICS will replace the U.S. dollar in international trade, or anywhere else. Any country that tries should say hello to tariffs and goodbye to America!”

Despite the dollar’s longstanding dominance in global trade, many developing nations, including BRICS members, have voiced concerns over U.S. control of the international financial system. At a BRICS summit in October, Russian President Vladimir Putin accused the U.S. of “weaponizing” the dollar, calling it a “big mistake.”

“It’s not us who refuse to use the dollar,” Putin stated. “But if they don’t let us work, what can we do? We are forced to search for alternatives.”

Established in 2009, BRICS is the only major international economic coalition that excludes the United States. Meanwhile, Trump has reiterated his vision of an “External Revenue Service” to collect tariffs and duties, aiming to leverage trade policies to strengthen the U.S. economy.

India, however, has downplayed concerns regarding de-dollarization. Reserve Bank of India (RBI) Governor Shaktikanta Das stated in December that India had not taken any steps to specifically move away from the dollar.

As global economic tensions persist, the battle over the dollar’s supremacy remains a key point of contention between the U.S. and emerging economies.