President-elect Donald Trump issued a warning to the BRICS nations—Brazil, Russia, India, China, and South Africa—over their reported plans to reduce reliance on the U.S. dollar.
Trump shared statement on Truth Social on Saturday, called for a formal commitment from these countries to abandon any efforts to create a BRICS currency or support an alternative to the dollar. He cautioned that failure to comply would result in severe economic consequences.
In his post, Trump vowed to impose 100% tariffs and bar non-compliant BRICS nations from accessing the U.S. market. “The idea that the BRICS countries are trying to move away from the Dollar while we stand by and watch is OVER,” Trump said.
He continued, “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. If they refuse, 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!’ There is no chance that the BRICS will replace the U.S. Dollar in International Trade, and any Country that tries should wave goodbye to America.”
Trump’s remarks signal his administration’s intention to prioritize the dollar’s dominance in global trade, a critical component of U.S. economic and geopolitical power.
The BRICS nations have increasingly explored ways to diminish their reliance on the dollar, particularly because of sanctions targeting Russia. Moscow has pushed for the development of a new international payments platform as part of its strategy to counteract the effects of Western economic penalties following its invasion of Ukraine.
A report from Reuters last month detailed Russia’s efforts to convince BRICS members to adopt a shared currency or payment system to facilitate trade. Such a move would represent a significant shift in global financial systems, challenging the dollar’s status as the world’s reserve currency.
Trump’s warning underscores the high stakes of this potential financial realignment. The U.S. dollar has long been the cornerstone of international trade, with many commodities, including oil, priced in dollars. A successful BRICS currency could undermine this dominance, reducing U.S. leverage in global economic affairs and impacting the American economy.
As Trump prepares to take office, his administration’s approach to the BRICS challenge will likely shape U.S. foreign and economic policy in the coming years.
While his ultimatum underscores his commitment to protecting American economic interests, the BRICS nations’ response will reveal whether they are willing to risk confrontation with the world’s largest economy to pursue an independent financial strategy.
