Trump warns BRICS nations against replacing US dollar
US President Donald Trump has once again warned BRICS nations that he would impose 100 per cent tariffs against them if they attempted to replace the US dollar in international trade, telling them to go and find “another sucker nation”.
An intergovernmental organisation of 10 countries, BRICS currently includes Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates.
“The idea that the BRICS countries are trying to move away from the dollar, while we stand by and watch, is over,” Trump said in a post on Truth Social, a social media platform owned by him, on Thursday.
Trump said he wanted a commitment from these “seemingly hostile” countries that they would neither create a new BRICS currency nor back any other currency to replace the “mighty” US dollar.
“Or they will face 100 per cent tariffs, and should expect to say goodbye to selling into the wonderful US economy,” Trump added.
“They can go find another sucker nation. There is no chance that BRICS will replace the US dollar in international trade, or anywhere else, and any country that tries should say hello to tariffs, and goodbye to America!” Trump threatened.
Although Trump has repeatedly criticised BRICS nations against any move to float their own currency, this is his strongest opposition to it so far. In December too, Trump warned BRICS nations against such a move.
India, an important pillar of BRICS, has said it was against de-dollarisation. External Affairs Minister S Jaishankar in December said India had never been for de-dollarisation and there was no proposal to have a BRICS currency.
No plan for common currency: Kremlin
"BRICS, of which Russia is a member, wasn’t talking about setting up its own currency, but about creating joint investment platforms. There have been statements like this before, back when he was just President-elect. US experts probably need to explain the BRICS agenda in more detail to Trump," said Dmitry Peskov, Kremlin spokesperson.
