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President Donald Trump offered a strong warning against nations in the Middle East that seek to devalue the U.S. dollar.
His Saturday Truth Social post threatened a “100% tariff” on countries opposing the use of the dollar as the world’s reserve currency.
“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.
Trump previously called on tariffs against imports from Mexico, Canada and China.
“As everyone is aware, thousands of people are pouring through Mexico and Canada, bringing Crime and Drugs at levels never seen before. Right now a Caravan coming from Mexico, composed of thousands of people, seems to be unstoppable in its quest to come through our currently Open Border. On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders,” Trump wrote.
“This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country! Both Mexico and Canada have the absolute right and power to easily solve this long simmering problem. We hereby demand that they use this power, and until such time that they do, it is time for them to pay a very big price!” he continued.
