Trump warns of 100% tariffs on these 9 countries

Donald Trump, the president-elect, is threatening to impose a 100% tariff on nine nations if they attempt to weaken the value of the US dollar.

The nations in the so-called BRIC alliance—Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, and the United Arab Emirates—were the targets of his warning.

Given that nations like Azerbaijan, Malaysia, and Turkey have already applied to join, their alliance may continue to expand in the future.

The notion that the BRICS nations are attempting to abandon the dollar while we look on is OVER. We demand that these nations promise not to invent a new BRICS currency or support any other currency to take the place of the strong U.S. dollar. If they do, they will be subject to 100% tariffs and will likely have to bid farewell to selling into the fantastic U.S. economy. Go find someone else who is a sucker! Trump said on Truth Social yesterday afternoon that there is no possibility that the BRICS will ever take the place of the US dollar in international trade and that any nation that attempts to do so should bid America farewell.

According to the platform, at the time of writing, the post has 32,600 likes and 1,790 replies.

Politico claims that Trump has a history of praising Putin, including when the autocrat invaded Ukraine, calling him “shrewd” and “genius.”

Since importers pay tariffs, American businesses who purchase goods from these nations would be responsible for paying the full duty rather than the exporting nation.

Members of the alliance and other developing countries say they are tired of America controlling the global financial system, despite the fact that the U.S. dollar is by far the most widely used currency in international trade and has withstood challenges to its dominance.

According to the IMF, the dollar accounts for about 58% of global foreign exchange reserves, and important commodities like oil are still mostly purchased and traded in dollars. However, the growing GDP share of BRICS and the alliance’s intention to trade in non-dollar currencies, or “de-dollarization,” pose a threat to the dollar’s hegemony.

According to research, there is no immediate threat to the U.S. dollar’s position as the main reserve currency of the world.

This article was contributed to by the Associated Press.

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