De-dollarization: US President Trump threatens BRICS with 100% tariffs

By  News On Air   Jan 31, 2025

United States President Donald Trump has once again warned BRICS nations and threatened them with 100 per cent tariffs on their exports if they try to replace the US dollar as the main currency in global trade.

President Trump has repeatedly said that BRICS nations must maintain the US dollar’s role in global trade or face economic consequences. The latest warning is a repeat of the one that he made on November 30th, weeks after winning the 2024 election. The statement reinforced Trump’s position on de-dollarisation, warning that BRICS countries must commit to maintaining the US dollar’s role in global trade or face economic consequences.

For years, the BRICS group of nations have been mulling ways to reduce dependence on the American dollar. Even though the grouping does not have a common currency as of now, its member nations including Brazil, Russia, India, China, and South Africa have been of late promoting trade in their local currencies.