U.S. President Donald Trump on Friday issued a stern warning to BRICS nations, threatening 100% tariffs on their exports if they attempt to replace the U.S. dollar as the dominant currency in global trade.
“The idea that the BRICS countries are trying to move away from the dollar, while we stand by and watch, is OVER,” Trump declared in a post, vowing economic retaliation against nations that pursue de-dollarisation.
BRICS—comprising Brazil, Russia, India, China, and South Africa, along with newer members like Egypt and the UAE—has increasingly sought to reduce dependence on the dollar. The bloc has encouraged trade in local currencies, with Russian President Vladimir Putin explicitly calling for de-dollarisation at the 2023 BRICS Summit.
Trump’s remarks, nearly identical to those he made after winning the 2024 election, underscore his strategy of leveraging tariffs to maintain U.S. economic dominance. His administration has previously targeted allies and adversaries alike, arguing that such measures protect American jobs.
However, economists caution that sweeping tariffs could backfire, raising costs for U.S. consumers and businesses. While BRICS pushes for alternatives, the dollar remains the world’s primary reserve currency, with no immediate challenge in sight.
