United States President-elect Donald Trump threatened BRICS countries on Saturday with a 100% tariff on exports to the US if they replace the US dollar in international trade. "The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER. We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar," he said on Truth Social.
BRICS states, which include Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates, have initiated studies into creating a common currency as a way to move away from the dollar and "increase payment options." However, Trump said abandoning the dollar would also mean "say[ing] goodbye to selling into the wonderful U.S. Economy."
