US President-elect Donald Trump threatened to levy 100% tariffs on BRICS — a China- and Russia-led group of nations with emerging economies — if the countries decide to issue their own currency.
US President-elect Donald Trump has threatened to levy 100% tariffs on BRICS — a China- and Russia-led group of nations with emerging economies — if the countries decide to issue their own currency.
Trump said Saturday that his incoming administration will not allow the nine-nation group, which has 34 other countries interested in joining, to undermine the US dollar.
“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 — referring to the group whose acronym stands for founding members Brazil, Russia, India, China and South America.
“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.
