"No chance": Trump threatens 100% tariffs on BRICS nations over pursuing new currency as dollar alternative

Donald Trump warns BRICS nations against creating their own currency or moving away from the US dollar, threatening 100% tariffs and exclusion from the US economy if they defy his demands.

US President Donald Trump has issued a stern warning to the BRICS nations, threatening to impose steep trade tariffs if they attempt to create their own currency and move away from the US dollar.

In a post on Truth Social, Trump stated that he would require a commitment from the "hostile" bloc not to create a new currency or back any alternative to the dollar. Failure to comply would result in "100% tariffs" and exclusion from the US economy.

The BRICS bloc, comprising Brazil, Russia, India, China, South Africa, and several other nations, has long considered developing its own currency to reduce dependence on the US dollar. However, this prospect has faced scrutiny from US lawmakers and has been repeatedly warned against by Trump.

Trump has a history of using tariff threats to achieve his economic and political goals. In fact, he is set to impose 25% tariffs on Canada and Mexico starting Saturday.

Trump emphasized that there is "no chance" the BRICS currency would replace the US dollar in international trade, and warned that any country attempting to do so would face severe consequences.