Donald Trump, the President-elect of the United States, has expressed concerns over the potential creation of a new currency by BRICS nations—a coalition that includes Brazil, Russia, India, China, and South Africa, along with new members such as Saudi Arabia and Egypt. Trump has proposed imposing 100% tariffs on products from these countries if they proceed with plans to develop an alternative to the US dollar.
In a post on his Truth Social platform, Trump stated:
“The idea that BRICS countries are trying to move away from the Dollar while we stand by and watch is OVER. 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, or they will face 100% tariffs.”
The BRICS group, which expanded in 2023, is seen as a key strategic ally for China in its bid to challenge US global leadership. Members like Russia and China view reducing reliance on the US dollar as a way to bypass Western sanctions. However, experts suggest that creating a unified currency is unlikely due to significant economic and geopolitical differences within the bloc.
This announcement comes as part of Trump’s broader tariff strategy, which includes raising tariffs on goods from Mexico, Canada, and China. These measures, according to Trump, aim to curb illegal immigration and drug trafficking. Recently, Trump held discussions with Mexican President Claudia Sheinbaum and hosted Canadian Prime Minister Justin Trudeau at his Mar-a-Lago estate for what was described as a “productive meeting.”
For more details, read the original article on cnn.com.
source: cnn.com
