Former U.S. President Donald Trump has warned that any BRICS country that attempts to create a new currency could face a hefty 100% tariff on exports to the United States.
Trump, the Republican presidential nominee, made the threat via a post on Truth Social, emphasizing his administration’s commitment to protecting the U.S. dollar.
“The idea that BRICS countries could undermine the U.S. dollar is OVER,” Trump wrote on Saturday. “If they create a new currency or back one, they will face 100% tariffs, and should expect to say goodbye to selling into the U.S. economy.”
BRICS—comprising Brazil, Russia, India, China, and South Africa—has recently expanded to include nations like Iran, Saudi Arabia, and Egypt. The bloc, with 34 countries expressing interest in joining, has gained global attention as it seeks to challenge U.S. economic dominance.
Brazil’s President Lula da Silva suggested creating a common South American currency in 2023 to reduce dependence on the U.S. dollar. Such efforts are part of broader attempts by Russia and China to bypass U.S. sanctions and reshape global financial systems.
Despite these ambitions, experts believe a new currency is unlikely due to the economic and political differences within BRICS. However, the expansion of the group is seen as part of China and Russia’s broader strategy to diminish U.S. global leadership.
Trump’s statement follows his recent pledge to raise tariffs on imports from Mexico, Canada, and China, accusing these nations of contributing to crime and illegal immigration. The threat to BRICS adds another layer to his broader economic stance, which focuses on confronting U.S. trade rivals.
The BRICS group, which now spans multiple continents, continues to attract attention for its potential to challenge traditional Western-dominated financial systems. Yet, tensions between its members and the U.S. could escalate if Trump’s tariff threat becomes a reality.
