BRICS vs. Dollar: Analyzing Trump’s 100% Tariff Threat
President-elect Donald Trump has warned BRICS nations, including Brazil, Russia, India, China, South Africa, and recent members like Egypt and Ethiopia, against moves to challenge the U.S. dollar’s dominance.
He threatened to impose 100% tariffs on their goods if they create a new currency or take actions to replace the dollar in global trade.
Trump’s remarks aim to counter growing efforts by BRICS to de-dollarize international transactions, which they argue are dominated unfairly by the U.S. financial system.