Donald Trump threatens BRICS countries: "100% tariffs if they weaken the dollar"
U.S. President Donald Trump has once again warned countries cooperating with Russia, threatening to impose high tariffs on their goods. The politician openly expresses concerns that the BRICS group is striving to weaken the position of the U.S. dollar in global markets. Vladimir Putin has mentioned plans to replace the dollar with another currency multiple times—the last time being during the BRICS summit in Kazan in the fall of 2024.
In brief
Donald Trump threatened BRICS countries with 100 percent tariffs if they attempt to replace the dollar with a new currency. The US president repeated the position he had already expressed in November 2024, declaring that the United States will not allow the dollar's dominance in global trade to be weakened. The BRICS group, founded in 2009 by Brazil, Russia, India and China, has expanded to include South Africa, Iran, Egypt, Ethiopia, the United Arab Emirates and Indonesia. According to the Atlantic Council's GeoEconomics Center, the dollar remains the world's dominant reserve currency.
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Trump vs. BRICS
During a Thursday statement, Donald Trump announced that BRICS countries attempting to replace the dollar with a new currency could face severe economic consequences. The U.S. president emphasized that the United States will not allow the weakening of the dollar’s dominance in global trade and warned of "100% tariffs" on nations supporting the new currency.
The BRICS group, founded in 2009 by Brazil, Russia, India, and China, has been strengthening its position on the international stage for years. In subsequent years, South Africa, Iran, Egypt, Ethiopia, the United Arab Emirates, and Indonesia joined, with more countries deepening their cooperation with the bloc. BRICS nations are among the leading producers of oil, gas, grains, and minerals, making them a significant player in the global economy.
Is the dollar at risk?
Trump reiterated his stance, first expressed in November 2024, firmly opposing any attempt to replace the dollar in international transactions. Russia responded to his threats, stating that U.S. pressure policies would only accelerate BRICS’ efforts to reduce their reliance on the dollar.
However, according to research from the GeoEconomics Center at the Atlantic Council, the dollar remains the world’s dominant reserve currency, and no other monetary system—including a potential BRICS currency—poses a serious threat to it in the foreseeable future.
Source: Business Insider / Reuters / Gazeta Morska
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