Trump warns of trade war if BRICS creates alternative to US Dollar

US President Donald Trump said he will impose 100% tariffs on BRICS countries if they create a new currency.

"The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is over. We are going to require a commitment from these seemingly hostile countries that they will neither create a new BRICS currency, nor back any other currency to replace the mighty US Dollar or, they will face 100% Tariffs and should expect to say goodbye to selling into the wonderful US economy," Trump said on Truth Social.

He said there is no chance that the US dollar could be replaced in international trade.

"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 wrote.

Earlier reports said the BRICS countries discussed the possibility of expanding settlements in national currencies and creating a common currency within the bloc, but no final decisions were made on the issue.

BRICS is an interstate association created in 2006 by Russia, China, India and Brazil. South Africa joined in 2011. Since the beginning of 2024, a number of other countries have joined BRICS.

Sputnik