United States President-elect Donald Trump has vowed to impose 100% tariffs on BRICS countries that attempt to replace the U.S. dollar in international trade.
The threat was made in a statement posted on his official Facebook page on Sunday.
Trump, known for his “America First” policy, made it clear that the U.S. would not stand idly by while the BRICS nations—Brazil, Russia, India, China, and South Africa—move to undermine the global dominance of the U.S. dollar.
In his statement, Trump declared that the idea of BRICS nations shifting away from the U.S. dollar would not be tolerated. He urged governments considering this move to reconsider, warning of harsh consequences if they proceed.
Specifically, Trump threatened to impose 100% tariffs on countries that attempt to replace the U.S. dollar, in addition to blocking U.S. trade with them entirely.
“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,” Trump said. “If they do not comply, they will face 100% tariffs and should expect to say goodbye to selling into the wonderful U.S. economy.”
Trump further stated, “They can go find another ‘sucker!’ There is no chance that the BRICS will replace the U.S. dollar in international trade, and any country that tries should wave goodbye to America.”
The BRICS bloc was established in 2009 with the aim of challenging what some countries, including Russia and China, perceive as U.S. global dominance. In 2023, Russian Foreign Minister Sergey Lavrov called for an international effort to reduce the use of the U.S. dollar in global trade and transactions.
The U.S. dollar has remained the world’s dominant currency, comprising the majority of the world’s foreign exchange reserves as of early 2023.
As of 2023, BRICS countries—Brazil, Russia, India, China, and South Africa—have been joined by six other nations, including Iran, Saudi Arabia, the UAE, Egypt, Argentina, and Ethiopia, in pushing for a move away from the U.S. dollar in favor of alternative currencies for trade.
Nigeria, which officially joined BRICS as a partner country in October 2024, has strengthened its economic ties with the bloc, further expanding its involvement in the movement for de-dollarization. At the same time, foreign capital inflows from BRICS nations surged by 189% in the first half of 2024, reaching $1.27 billion, compared to $438.72 million during the same period in 2023.
Trump’s strong reaction signals that U.S. relations with several countries, particularly those in the BRICS bloc, could become more strained in the months ahead.
