BRICS: Trump Threatens Tariffs Over Attempts to Replace U.S. Dollar

Donald Trump has made a bold move to defend the U.S. dollar's dominance, warning BRICS nations against creating or supporting any currency that could rival it.

Trump has demanded a commitment from the bloc—which includes economic heavyweights like China, India, and Russia—to steer clear of alternatives to the dollar. Failure to comply, he warned, would result in severe tariffs and restricted access to the U.S. market.

Throughout the years BRICS has become a platform for its members, including South Africa and newer additions like Iran and the UAE, to explore collaborative financial strategies. While Russia and China have pushed for a shared currency, India has remained cautious. Trump’s firm stance, expressed via social media, leaves little room for negotiation, asserting that any such move would have dire consequences for trade relations.

Trump has long advocated for preserving the dollar’s status as the world’s reserve currency. He views any shift away from it as a significant threat to U.S. economic power. Measures under consideration include tariffs and export controls targeting countries that engage in non-dollar trade. According to Trump, the dollar’s supremacy is not just a financial necessity but a cornerstone of American global influence.

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Frustrations among BRICS members have grown, particularly over what they see as America’s outsized role in global finance. Russian President Vladimir Putin has criticized the U.S. for using the dollar as a political weapon, arguing that sanctions have forced his country to explore alternatives. However, Trump has dismissed such claims, emphasizing that the dollar’s primacy is non-negotiable.

Trump’s economic plans extend beyond the BRICS bloc. He has already proposed tariffs on Mexico, Canada, and China, citing concerns over drug trafficking and illegal immigration. As his second term approaches, these tough policies signal a continuation of his “America First” agenda, with the dollar’s dominance

Kosta Gushterov