
President Donald Trump has issued another warning to BRICS nations, making it clear that any effort to move away from the U.S. dollar could have serious economic consequences. He threatened 100% tariffs on any country attempting to introduce a new currency that could compete with the dollar.
On Thursday, Trump posted on Truth Social, saying that BRICS members must pledge not to create or support an alternative currency. “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!” he wrote.
BRICS: we’re considering replacing the dollar
Trump: 100% tariff pic.twitter.com/Eezh0Y9RCX
— Rothmus 🏴 (@Rothmus) January 31, 2025
The BRICS alliance, which includes Brazil, Russia, India, China, and South Africa, has expanded in recent years, adding Egypt, Ethiopia, Iran, the United Arab Emirates, and Indonesia. Though the group does not currently have a shared currency, discussions about reducing dependence on the dollar have increased, particularly in response to sanctions placed on Russia by Western nations.
Donald Trump just ENDED BRICS
He’s promising 100% tariffs if they abandon the US Dollar. How much would that cost BRICS (Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, and the United Arab Emirates) per year?
That estimated total is $1.6 TRILLION PER YEAR pic.twitter.com/ZOd58ovYFV
— Wall Street Apes (@WallStreetApes) January 31, 2025
Trump previously made similar comments in November after securing victory in the presidential election. At the time, Russian officials dismissed the idea that the U.S. could control how countries conduct financial transactions, warning that such pressure could push more nations toward independent economic systems.
Alongside his stance on BRICS, Trump has also emphasized his broader trade policies. His administration has proposed a 25% tariff on goods from Mexico and Canada, set to take effect Feb. 1. He has linked this policy to efforts to curb illegal immigration and stop the flow of fentanyl into the U.S.
🚨JUST ANNOUNCED: My God! POTUS President Trump hints at 100% tariffs on BRICS countries if they create a new BRICS Currency or back any other Currency to replace the U.S. Dollar. pic.twitter.com/HJKSSLfKKz
— AJ Huber (@Huberton) January 31, 2025
Despite discussions about alternative financial systems, the U.S. dollar continues to dominate global trade. The Atlantic Council’s GeoEconomics Center has reported that neither the euro nor any BRICS-based currency has significantly reduced reliance on the dollar.
Officials in South Africa have addressed concerns about BRICS financial plans, stating that the group is not working toward a shared currency. Instead, they have expressed interest in strengthening systems that facilitate trade in national currencies. While some discussions have touched on the possibility of a gold-backed financial system, no formal plan has been adopted.