Donald Trump, the incoming US President, has issued a strong warning to BRICS nations (Brazil, Russia, India, China, and South Africa) over their plans to challenge the dominance of the US dollar in global trade. Trump threatened to impose 100% tariffs on goods from BRICS countries if they introduce or support a currency that could rival the US dollar ¹.

The BRICS bloc has been exploring alternatives to the dollar, including the potential creation of a shared currency, to reduce reliance on the US dollar and minimize the impact of US sanctions ². However, Trump's warning signals a possible escalation in economic tensions between the US and BRICS nations.

Trump's stance aligns with his "America First" policy and campaign promises to protect the dollar's global dominance. His administration views the BRICS efforts as a threat to US economic power, particularly as the bloc expands its membership and influence ².