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President Donald Trump shut down discussions of BRICS nations replacing the U.S. dollar as a reserve currency, threatening 100 percent tariffs against opposing nations.
The president shared the comments in a statement on his Truth Social profile on Thursday.
“The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER. 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,” Trump wrote.
“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!” he added.
As RSBN previously reported, Trump posted to Truth Social in December and threatened a “100% tariff” on countries opposing the use of the dollar as the world’s reserve currency in similar comments.
“The idea that the 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, and should expect to say goodbye to selling into the wonderful U.S. Economy,” Trump wrote.
“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,” he added.
The BRICS countries include Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates.
Following the U.S. imposition of harsh sanctions on Russia in response to its 2022 invasion of Ukraine, the BRICS nations began intensifying discussions about reducing their reliance on the U.S. dollar, Fox News reported.
While moving away from the dollar has long been a goal of the BRICS group, previous efforts have been hindered by internal disagreements among its member countries.