Trump threatens 100% tariffs on BRICS over USD replacement

US President-elect Donald Trump on Saturday called on BRICS member countries to pledge not to create or support any new currency that could replace the US dollar, warning that failure to comply would result in 100 per cent tariffs.

“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 US Dollar or, they will face 100 per cent Tariffs, and should expect to say goodbye to selling into the wonderful US Economy,” Trump posted on his social media platform.

He further stated, “They can go find another ‘sucker’. There is no chance that the BRICS will replace the US Dollar in International Trade, and any Country that tries should wave goodbye to America.”

Attribution: Reuters

Subediting: M. S. Salama