Credit: BRICS News
President Donald Trump of the United States (U.S.) on Friday dared member states of the BRICS alliance, threatening 100% tariffs if replace the U.S. dollar as means of payment in global trade.
Trump also threatened to severe diplomatic relations with BRICS member states over the dollar impasse.
Trump had declared: “The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER.
“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 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 Nation.
“There is no chance that BRICS will replace the U.S. Dollar in International Trade, or anywhere else, and any Country that tries should say hello to Tariffs, and goodbye to America!”
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BRICS member states comprised of the founding countries – Brazil, Russia, India, China and South Africa.
Iran, Ethiopia, Egypt and the United Arab Emirates joined BRICS in 2024, while Indonesia joined at the beginning of January.
The group aims to act as a counterweight to the Group of Seven (G7) of leading Western economic powers.
Russian President Vladimir Putin has repeatedly criticised the dominance of the U.S. currency and announced his intention to establish an independent payment and clearing system within the alliance.
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