President-elect Donald Trump threatened Saturday to impose 100% tariffs on any BRICS nation that abandons the U.S. dollar.
Trump warned the economic alliance — composed of markets in countries like Brazil, Russia, India, China and South Africa — that moving away from the U.S. dollar to create a new BRICS currency will not be taken lightly under his incoming administration.
Trump made the comments on Truth Social today, in a post that warned the nine states that are BRICS (Brazil, Russia, India, China, and South Africa) members against creating a new currency. pic.twitter.com/Jf6jDKSELh
— Daily Caller (@DailyCaller) November 30, 2024
“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 posted on Truth Social.
“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.
After Russia faced global sanctions for its war with Ukraine, Russian President Vladimir Putin reportedly hoped to position BRICS — which has expanded to include Egypt, Ethiopia, Iran and the United Arab Emirates — as an alternative platform for international payments, Reuters reported in October.
Earlier this month, Trump hit the ground running by threatening to impose a 25% tariff on all Mexican and Canadian goods until their governments take action to limit the onslaught of drugs and illegal migrants entering the U.S. (RELATED: Trump Taps Jamieson Greer To Be His Trade Chief)
While Mexican President Claudia Sheinbaum publicly suggested she would retaliate if Trump’s tariffs came to be, Canadian Prime Minister Justin Trudeau met with Trump at Mar-a-Lago on Friday, where the two had constructive conversations.
“I just had a very productive meeting with Prime Minister Justin Trudeau of Canada, where we discussed many important topics that will require both Countries to work together to address, like the Fentanyl and Drug Crisis that has decimated so many lives as a result of Illegal Immigration, Fair Trade Deals that do not jeopardize American Workers, and the massive Trade Deficit the U.S. has with Canada,” Trump wrote on Truth Social on Saturday. “I made it very clear that the United States will no longer sit idly by as our Citizens become victims to the scourge of this Drug Epidemic, caused mainly by the Drug Cartels, and Fentanyl pouring in from China. Too much death and hardship!”
Canadian PM Justin Trudeau meets President-elect Trump at Mar-a-Lago. pic.twitter.com/FnsXNYbLO6
— Benny Johnson (@bennyjohnson) November 30, 2024
“Prime Minister Trudeau has made a commitment to work with us to end this terrible devastation of U.S. Families,” the president-elect continued. “We also spoke about many other important topics like Energy, Trade, and the Arctic. All are vital issues that I will be addressing on my first days back in Office, and before.”
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