President-elect Donald Trump continued emphatically letting the world know some of his plans for when he returns to the White House next month, again with the threat of tariffs if certain nations insist on pursuing or continuing policies that he feels are contrary to U.S. interests.
On Saturday, Trump threatened "100% tariffs" on the BRICS nations, according to Fox Business, over plans they have been working on to move away from the dollar as the world’s reserve currency, a position it has held since the 1944 Bretton Woods Agreement.
The BRICS nations include Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates.
"The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER," Trump wrote on Truth Social on Saturday afternoon."
He continued, "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."
"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 wrote.
While BRICS for years has wanted to move away from the dollar, the plan picked up steam and new members after the U.S. imposed new, tough sanctions on Russia following its 2022 invasion of Ukraine, according to Politico.
Trump also threatened tariffs this week on Mexico and Canada over illegal immigration and the flow of illegal drugs across both countries’ borders with the U.S. He got immediate reactions from those countries, suggesting that the threat of tariffs serves as a good negotiating tool.
