President-elect Donald Trump threatened on Saturday to impose 100% tariffs on BRICS member countries if they create a new currency or support another to replace the US dollar.
The warning falls on Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates. Türkiye, Azerbaijan and Malaysia have applied to become members of the bloc, and several other countries have expressed interest in joining.
Although the US dollar is by far the most widely used currency in global business and has survived previous challenges, alliance members and other developing nations say they are fed up with US dominance in the global financial system.
“We require a commitment from these countries that they will not create a new BRICS currency, support any other currency to replace the mighty US dollar, or face 100% tariffs, and should expect to say goodbye to selling into the wonderful US economy.” Trump wrote on his social media platform, Truth Social.
“They can go find another ‘fool’. There is no chance of the BRICS replacing the US dollar in international trade, and any country that tries should say goodbye to the United States,” he said.
At a summit of BRIC nations in October, Russian President Vladimir Putin accused the United States of “weaponizing” the dollar and described it as a “big mistake.”
“It is not us who refuse to use the dollar,” Putin said at the time. “But if they don’t let us work, what can we do? “We are forced to look for alternatives.”
Russia has specifically pushed for the creation of a new payment system that would offer an alternative to the global banking messaging network SWIFT and allow Moscow to circumvent Western sanctions and trade with its partners.
[Con información de Reuters y AP]
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