
President Donald Trump has reiterated his stance against BRICS countries seeking to challenge the dominance of the U.S. dollar, threatening 100% tariffs on any nation attempting to replace it as a reserve currency.
In a Truth Social post on Thursday, Trump declared that BRICS nations must commit to neither forming a new common currency nor supporting any alternative to the dollar. “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 U.S. Dollar or, they will face 100% Tariffs,” he stated.
BRICS: we’re considering replacing the dollar
Trump: 100% tariff pic.twitter.com/Eezh0Y9RCX
— Rothmus 🏴 (@Rothmus) January 31, 2025
The BRICS bloc, made up of Brazil, Russia, India, China, and South Africa, has expanded in recent years, adding Egypt, Ethiopia, Iran, the United Arab Emirates, and Indonesia. While the group does not have a shared currency, discussions about moving away from the dollar have gained momentum, particularly following sanctions on Russia.
Donald Trump just ENDED BRICS
He’s promising 100% tariffs if they abandon the US Dollar. How much would that cost BRICS (Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, and the United Arab Emirates) per year?
That estimated total is $1.6 TRILLION PER YEAR pic.twitter.com/ZOd58ovYFV
— Wall Street Apes (@WallStreetApes) January 31, 2025
Trump’s latest statement closely resembles one he made in November after securing victory in the presidential election. At the time, Russia warned that attempts to force countries to use the dollar could have unintended consequences.
The former president also directed a blunt message at BRICS nations attempting to move away from the dollar, saying they should “say hello to Tariffs, and goodbye to America!” He has previously linked tariffs to broader economic policies, including his plan to impose a 25% tariff on Mexico and Canada beginning Feb. 1, aimed at curbing illegal immigration and drug trafficking.
🚨JUST ANNOUNCED: My God! POTUS President Trump hints at 100% tariffs on BRICS countries if they create a new BRICS Currency or back any other Currency to replace the U.S. Dollar. pic.twitter.com/HJKSSLfKKz
— AJ Huber (@Huberton) January 31, 2025
Despite BRICS discussions on currency alternatives, the U.S. dollar remains the primary global reserve currency. A report by the Atlantic Council’s GeoEconomics Center confirmed that no major competitor has successfully challenged its role in international trade.
South African officials acknowledged that while BRICS is working to strengthen trade in local currencies, there is no formal plan for a shared currency. The nation’s Department of International Relations and Cooperation stated that “enhancing BRICS payment systems to accommodate trading in local currencies does not imply de-dollarisation.”
The BRICS alliance, originally founded as an informal economic club in 2009, has continued to expand its influence. Indonesia became the latest full member in January. While some leaders within the bloc have discussed the possibility of a currency backed by gold and national reserves, no official plan has been enacted.