Trump threatens BRICS nations considering abandoning the US dollar with 100% tariffs.

US President Donald Trump has threatened BRICS nations with a 100% tariff if they abandon the US dollar as an international means of payment.

"The idea that BRICS countries will try to move away from the dollar while we simply stand by is over. We demand commitments from these nations that they will not create a new BRICS currency and will not support any other currency to replace the powerful US dollar," he wrote on his social media platform, Truth Social, on the evening of Thursday, January 30.

Trump warned that otherwise these countries "will face 100% tariffs and will have to say goodbye to the opportunity to sell their goods in the wonderful US market."

"Let them find another 'fool!' There is no chance that BRICS will replace the US dollar in international trade, and any country attempting to do so will have to bid farewell to America," the US president emphasized.

Initially, the BRICS group consisted of five members: Brazil, Russia, India, China, and South Africa.

In early 2024, Iran, Egypt, Ethiopia, and the UAE joined them.

Putin has repeatedly criticized the dominance of the American currency and announced plans to create an independent payment and settlement system within BRICS. Moscow hopes that introducing an alternative, non-Western currency will help reduce the impact of Western sanctions.

Donald Trump has already used tariffs as a pressure tactic during his first presidential term from 2017 to 2021. Economists believe that large-scale tariffs will lead to rising prices in the US.

Background. It is worth noting that in January of this year, Nigeria and Indonesia also joined BRICS.