Trump warns BRICS nations against replacing US dollar
US President-elect Donald Trump on Saturday demanded that BRICS member countries commit to not creating a new currency or supporting another currency that would replace the United States dollar or face 100% tariffs.
In a post on his social media platform, Truth Social, Trump emphasized the importance of the dollar in global trade. 'We demand a pledge from BRICS countries that they will not create or support any currency to rival the mighty US Dollar. Failure to comply will result in 100% tariffs, effectively ending their access to our incredible US economy,' Trump wrote.
Trump further dismissed the likelihood of the BRICS nations—Brazil, Russia, India, China, and South Africa—successfully challenging the dollar's dominance. 'There is zero chance that BRICS can replace the U.S. Dollar in international trade. Any nation attempting to do so can consider its ties with America severed,' he added.
The statement underscores Trump's staunch defense of the dollar's global reserve currency status amid increasing discussions within BRICS about reducing dependency on the US currency.
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