Washington: President-elect Donald Trump has issued a strong warning to the BRICS nations—Brazil, Russia, India, China, and South Africa—against efforts to challenge the dominance of the U.S. dollar in global trade. In a post on his Truth Social platform, Trump stated, “The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER.”
Trump’s warning emphasized the consequences of creating an alternative currency. He said, “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.”
This stern message arrives as Trump prepares to begin his second term in January, signaling the potential return of his hardline trade policies. Throughout his campaign, Trump pledged to safeguard the dollar’s global preeminence and penalize any attempts at de-dollarization. His latest statements underscore the centrality of economic nationalism to his upcoming administration’s agenda.
The BRICS nations, which have been vocal about reducing their reliance on the dollar, discussed this goal at their 2023 summit in Johannesburg. The momentum for de-dollarization accelerated after U.S.-led sanctions on Russia in 2022 highlighted the risks of dollar dependence amid geopolitical conflicts.
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Reports suggest Trump’s economic advisors are devising strategies to counter these moves. Potential measures under consideration include export controls, higher tariffs, and other trade penalties. Sources privy to these discussions indicated that Trump is contemplating sweeping policies to solidify the dollar’s status as the global reserve currency.
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In a March interview, Trump highlighted the critical need to protect the dollar, stating, “I would not allow countries to go off the dollar because it would be a hit to our country.” Reiterating his stance on Saturday, he added, “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.”
