In yet another fiery Truth Social post, President-elect Donald Trump declared his intention to impose 100% tariffs on countries he accuses of attempting to undermine the U.S. dollar. Trump’s latest target? The BRICS nations—Brazil, Russia, India, China, South Africa, along with recent additions like Iran, Egypt, Ethiopia, and the United Arab Emirates—which have been exploring alternatives to the dollar in international trade.
Trump’s Demand: “No New BRICS Currency”
Trump’s tirade revolved around what he called the “mighty U.S. Dollar.” He issued a stark warning to BRICS countries, demanding a formal commitment to abandon any plans for a new BRICS currency or any other move that could diminish the dollar’s dominance.
“The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER,” Trump wrote. “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. They can go find another ‘sucker!’”
Tariffs as a Weapon of Economic Retaliation
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Trump made it clear that any country challenging the dollar’s dominance in global trade would face severe economic consequences. “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,” he added. The blunt rhetoric reflects a continuation of Trump’s penchant for economic threats, reminiscent of his trade wars during his first term.
Canada and Tariffs: Another Target in Trump’s Economic Agenda
Trump also used the opportunity to discuss his recent conversation with Canadian Prime Minister Justin Trudeau. This comes on the heels of Trump’s announcement of tariffs on all goods from Canada, Mexico, and China.
“Prime Minister Trudeau has made a commitment to work with us to end this terrible devastation of U.S. Families,” Trump said, referring to efforts to combat drug smuggling across the border. He added that the two leaders discussed critical issues such as energy, trade, and Arctic policy, which he plans to prioritize upon taking office.
A Troubling Pattern of Economic Nationalism
Trump’s rhetoric underscores a familiar theme: using economic coercion to advance nationalist policies. However, critics argue that such aggressive posturing could have unintended consequences. Experts warn that imposing steep tariffs on BRICS nations—many of which are key U.S. trading partners—could backfire, exacerbating inflation and pushing those countries further away from the dollar’s orbit.
The BRICS nations have been exploring alternatives to the dollar for years, citing concerns over U.S. financial hegemony and sanctions. A coordinated move away from the dollar could shake the foundation of global trade, and Trump’s bluster alone may not be enough to deter them.
Escalating Tensions on Multiple Fronts
Trump’s threats to BRICS countries, paired with new tariffs on Canada, Mexico, and China, signal an economic strategy rooted in confrontation. While his base may cheer this aggressive stance, the broader implications for U.S. diplomacy and global stability remain uncertain.
For now, Trump’s bold proclamations on Truth Social have set the stage for a turbulent start to his presidency. Whether his economic threats yield results or spark a trade war is a question the world is watching closely.
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Featured image via Political Tribune Gallery
