Tariffs to be imposed if BRICS nations introduce their own currency, says statement
Washington: U.S. President Donald Trump has threatened to impose a 100% tariff on the BRICS bloc—comprising Brazil, Russia, India, China, and South Africa—if they attempt to replace the U.S. dollar with their own currency.
According to foreign media reports, President Trump reiterated his commitment to imposing a 25% tariff on Canada and Mexico starting this week. In a post on his social media platform, Truth Social, he stated that the U.S. is seeking assurances from these rival nations that they will neither create a new BRICS currency nor support any alternative currency that could challenge the dominance of the U.S. dollar. He warned that failure to comply would result in a 100% tariff on these countries.