Trump promises staggering tariffs for BRICS countries if they abandon U.S. currency

(WASHINGTON EXAMINER) – President-elect Donald Trump on Saturday threatened to enact “100% tariffs” on BRICS countries that are trying to move away from using the U.S. dollar as their currency.

“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 or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy,” Trump said in a post to Truth Social.

BRICS, an acronym for Brazil, Russia, India, China, and South Africa, is an economic and geopolitical bloc whose power has grown in recent years, rivaling that of the Group of Seven countries, a coalition of leading industrial nations led by the U.S. The BRICS coalition has recently grown to include Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates.