Former and future US President Donald Trump in his latest statement this weekend has warned the BRICS countries not to distance themselves from the US dollar.
BRICS, a coalition of Brazil, Russia, India, China and South Africa, recently added members that include Iran, Egypt, Ethiopia and the UAE.
Trump threatened to impose a 100% tariff on any BRICS country that develops a new currency or supports an alternative to the US dollar in international trade.
Trump, through his social platform, Truth Social, expressed his frustration with the BRICS' ongoing discussions about replacing the dollar.
These discussions have gained momentum since the US imposed sanctions on Russia in 2022, amid the Ukraine conflict.
Trump emphasized the dominance of the dollar and demanded a commitment to maintain it as the global reserve currency.
He warned the BRICS countries to abandon any plans for a new currency or face severe economic consequences, including losing access to the American market.
This is not the first time Trump has proposed tariffs, with previous plans including significant tariffs on Mexico, Canada and China under the pretext of addressing issues such as immigration and drug trafficking.
However, critics have questioned the feasibility of these measures, arguing that they could lead to strained trade relations and global economic challenges.
