President Donald Trump of the United States of America has issued a strong warning to Brazil, Russia, India, China, and South Africa (BRICS) over their reported plans to abandon the U.S. dollar in favour of an alternative currency.
In a statement posted on his Truth Social platform, Trump cautioned that if the BRICS nations move forward with efforts to replace the dollar, they should expect severe economic consequences, including 100% tariffs on their exports to the U.S.
He further declared that any country involved in shifting away from the dollar would risk losing access to the American market.
“The notion that BRICS is working to move away from the dollar while we passively observe is over,” Trump asserted.
He emphasized that the U.S. would demand a clear commitment from these nations to refrain from establishing a BRICS currency or supporting any alternative to the dollar.
Failure to comply, he warned, would result in punitive tariffs and exclusion from trade with the U.S.
“They can look for another gullible nation,” Trump added, stressing that BRICS has no chance of dethroning the U.S. dollar in global trade. He reiterated that any attempt to do so would be met with economic retaliation from the United States.