Trump Warns BRICS Nations: Face 100% Tariffs Over Dollar Move

NEW DELHI, India — U.S. President Donald Trump issued a stark warning to BRICS nations on Friday, threatening to impose 100% tariffs on their exports if they attempt to replace the U.S. dollar as the dominant currency in international trade. The warning, posted on his Truth Social platform, echoed similar statements made in November 2024, shortly after his re-election.

“The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER,” Trump wrote. “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 US Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful US Economy.”

The BRICS group — comprising Brazil, Russia, India, China, and South Africa — has long explored ways to reduce reliance on the U.S. dollar, particularly in the wake of Western sanctions against Russia following its invasion of Ukraine. The coalition has since expanded to include Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates, collectively referred to as BRICS+.

At the 15th BRICS Summit in 2023, Russian President Vladimir Putin called for increased use of national currencies in trade settlements, a push that gained momentum at the June 2024 BRICS foreign ministers’ meeting in Russia. Despite these efforts, the U.S. dollar remains the world’s primary reserve currency, with a study by the Atlantic Council‘s GeoEconomics Center confirming its continued dominance.

Trump’s tariff threats are part of a broader strategy to maintain U.S. economic leverage. During his campaign, he criticized India as a “very big abuser” of trade policies and has extended similar rhetoric to other BRICS+ members. He argues that tariffs will protect American industries and workers, though economists warn such measures could raise costs for U.S. consumers and businesses reliant on imports.

Indian Congress MP Shashi Tharoor dismissed Trump’s warnings as “a bit empty,” noting the absence of concrete plans to replace the dollar. “The dollar is a practical convenience for most countries in the world,” Tharoor said. “There may have been some discussion, but I don’t see any support in the Indian government for such a proposal.”

Trump’s aggressive stance reflects his broader trade policies, including recent threats to impose tariffs on Mexico and Canada to combat illegal immigration and drug trafficking. His administration has consistently prioritized economic nationalism, aiming to bring manufacturing jobs back to the U.S. while challenging global trade norms.

As BRICS nations continue to explore alternatives to the dollar, Trump’s warnings underscore the high stakes of global economic competition. Whether his threats will deter de-dollarization efforts remains to be seen, but the tension highlights the fragility of the current international financial system.