WEST PALM BEACH, Fla. — President-elect Donald Trump issued a stern warning on Saturday, suggesting that 100% tariffs could be imposed on a group of nine nations if they attempt to undermine the dominance of the U.S. dollar.
His remarks specifically targeted the countries comprising the BRIC alliance—Brazil, Russia, India, China, South Africa, as well as Egypt, Ethiopia, Iran, and the United Arab Emirates.
Furthermore, Turkey, Azerbaijan, and Malaysia have shown interest in joining this coalition, with several other nations also considering membership.
The U.S. dollar maintains its status as the most utilized currency in international trade, even as it has faced challenges. Members of the BRIC alliance and other emerging economies express significant frustration regarding what they perceive as the overwhelming influence of the United States over the global financial infrastructure.
In a post on Truth Social, Trump stated, “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.”
During a recent BRIC summit, Russian President Vladimir Putin criticized the United States for “weaponizing” the dollar, categorizing it as a considerable error.
“It’s not us who refuse to use the dollar,” Putin remarked. “But if they don’t let us work, what can we do? We are forced to search for alternatives.”
Russia has notably advocated for the development of a new payment system aimed at providing an alternative to SWIFT—the global bank messaging service—which would enable Moscow to navigate Western sanctions and facilitate trade with other partners more freely.
In response to the pushback from BRIC nations, Trump asserted that the likelihood of these countries replacing the U.S. dollar in the arena of global trade is extremely low.
He emphasized that any nation attempting to achieve such a goal should “wave goodbye to America.”
