Trump threatens BRICS with 100% tariffs if they insist on replacing the dollar
The warning comes at a time when the president has reiterated that he will impose tariffs on Mexico, Canada and China.
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Donald Trump and Vladimir Putin in an edited image
President Donald Trump again issued tariff threats in public. On this occasion to, the BRICS, the group made up of Brazil, Russia, India, China, South Africa and other countries as an alternative to G7.
In a post on the social network Truth, the U.S. president stated that he is ready to impose 100% tariffs on the BRICS if they do not commit to abandoning the idea of replacing the dollar.
"The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER," Trump wrote. "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 U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy."
"They can go find another sucker Nation," the U.S. president continued. "There is no chance that BRICS will replace the U.S. Dollar in International Trade, or anywhere else, and any Country that tries should say hello to Tariffs, and goodbye to America!"
This is not the first time Trump has threatened harsh tariffs on the BRICS. In November, after defeating Democrat Kamala Harris, the Republican front-runner warned the group that it needed to move past the idea of forging an alternative currency to the dollar.
In response, Russia warned at the time that any attempt by the United States to force BRICS countries to use the dollar would backfire.
Trump's new warning comes from the president's reiterated intention to impose high tariffs on Mexico, Canada and China. In China's case, this is in retaliation for not curbing the trafficking of drugs such as fentanyl into the United States and, in the case of Mexico and Canada, for their lack of cooperation with U.S. authorities to contain the migration crisis.
In fact, Mexico and Canada are awaiting whether or not Trump fulfills his promise to impose tariffs of 25% on their products as of February 1.
Likewise, Brazilian Socialist President Luiz Inácio Lula da Silva told Trump that Brazil will respond with tariffs in the event that Washington imposes tariffs on Brazilian products.
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