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President Donald Trump is again threatening to slap BRICS nations with a 100% tariff if they replace the dollar as their reserve currency.
“The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER,” Trump stated in a Truth Social post shared Thursday.
The president then said he was “going to require a commitment from these seemingly hostile Countries” to not replace “the mighty U.S. Dollar, or they will face 100% Tariffs.”
“They can go find another sucker Nation. 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!” Trump continued.
The 10 countries that make up BRICS—Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates—represent nearly half of the world’s population. The intergovernmental organization discussed creating a gold-back currency called the “Unit” as an alternative to the U.S. dollar at its flagship summit in October 2024, Nasdaq reported.
Originally published by Latin Times
