U.S. President Donald Trump has warned that BRICS countries will face 100% tariffs if they attempt to replace the U.S. dollar with their own currency.
According to Trump, there is “no chance” that BRICS will succeed in replacing the U.S. dollar in international trade.
“Any country that tries should say ‘hello’ to tariffs and ‘goodbye’ to America,” he emphasized.
Trump added that BRICS nations should expect to “say goodbye to selling to the wonderful U.S. economy” and instead look for another “foolish country” to trade with.
“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,” he stated.
BRICS was originally formed by Brazil, Russia, India, and China, with South Africa joining later. More recently, Iran, Egypt, Ethiopia, the United Arab Emirates, and Indonesia have also become members.
