Trump Warns BRICS: 100% Tariffs If Business Is Not Done in Dollars

U.S. President-elect Donald Trump has warned BRICS nations against trading in currencies other than the U.S. dollar. Trump announced that any member country—India, Russia, China, Brazil, or South Africa—that abandons the dollar in favour of alternative currencies would face a 100% tariff on exports to the U.S. market.
The BRICS group has been exploring alternatives to reduce dependency on the dollar, a move Trump views as a direct threat to U.S. economic dominance. Using Truth Social, Trump declared, "The dollar is the backbone of the global economy. Any attempt to replace it will face severe consequences."
India has opposed such shifts, with External Affairs Minister S. Jaishankar emphasizing collaboration within established monetary systems. The BRICS bloc, formed in 2009, continues to focus on economic cooperation, but Trump’s ultimatum could escalate tensions, impacting global trade dynamics.