17 sources·Politics

Trump Threatens 100% Tariffs on BRICS Nations Over Dollar Dominance

President-elect Trump warns BRICS nations of severe tariffs if they attempt to undermine the U.S. dollar's status in global trade.

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Updated: Nov 30th, 2024, 9:59 PM ET

Summary

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President-elect Donald Trump has threatened to impose 100% tariffs on BRICS countries—Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, and the UAE—if they pursue alternatives to the U.S. dollar for trade. Trump's warning reflects growing concerns about potential de-dollarization as BRICS nations identify ways to challenge U.S. currency dominance. His comments follow a summit where BRICS discussed creating a new currency. Trump has consistently used tariff threats as leverage in foreign policy, reaffirming that any country attempting to replace the dollar will face dire consequences from the U.S.

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