Trump Warns Against BRICS De-Dollarization Efforts
By DAYO ADESULU
Washington, DC [US], February 14 (ANI): Former US President Donald Trump has declared that BRICS is “dead”, warning that the bloc will face 100% tariffs if it moves forward with plans to introduce an alternative currency to the US dollar.
Trump: “BRICS Was Created for a Bad Purpose”
Speaking at a press briefing on Thursday, Trump dismissed the relevance of the BRICS economic alliance, stating that most member nations “don’t even want it.” He accused BRICS of attempting to undermine the US dollar’s dominance in global trade.
“If BRICS wants to play games, those countries won’t trade with us. We won’t trade with them, and if any trading gets through, it’ll be at a 100% tariff at least,” Trump stated.
Trump’s Stance on De-Dollarization and Tariff Threats
In January, Trump issued a warning via Truth Social, saying:
“The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER… Any country that tries should say hello to tariffs and goodbye to America!”
The former president insisted that the US holds leverage over BRICS countries and emphasized that no alternative currency would replace the US dollar in international trade.
BRICS Pushes for Alternative Currency
Despite Trump’s threats, BRICS nations have continued their push for de-dollarization. During the 15th BRICS Summit in 2023, Russian President Vladimir Putin called for an expanded use of national currencies in trade.
At a June 2024 meeting in Russia’s Nizhny Novgorod, BRICS foreign ministers reaffirmed their commitment to reducing reliance on the US dollar and strengthening financial cooperation within the bloc.
US-BRICS Tensions Continue to Rise
With Trump reaffirming his stance against BRICS, geopolitical tensions between the US and BRICS nations are expected to intensify, particularly regarding global trade policies and currency dominance.
