100% tariff on BRICS countries if they pursue creating new currency- Donald Trump

100% tariff on BRICS countries if they pursue creating new currency- Donald Trump.

Donald Trump, the former U.S. President, recently stated that he would demand BRICS nations — a bloc of emerging economies supported by China and Russia — to abandon plans to develop a new currency, or face severe penalties.

He emphasized that the U.S. would no longer stand idly by as BRICS attempts to move away from the U.S. dollar.

Trump posted on Truth Social that BRICS nations must commit to not creating a new currency or backing alternatives to the dollar. If they fail to do so, he warned, they would face 100% tariffs and lose access to the U.S. market.

BRICS, initially formed by Brazil, Russia, India, China, and South Africa, has expanded in 2023 with the addition of Iran, Saudi Arabia, the UAE, Ethiopia, and Egypt. Thirty-four countries have expressed interest in joining the group, according to South African Foreign Minister Naledi Pandor.Brazil’s President, Luiz Inácio Lula da Silva, had suggested creating a common South American currency to reduce reliance on the U.S. dollar.

The BRICS nations, particularly Russia, China, and Iran, have considered using alternative currencies and financial systems to bypass Western sanctions. However, due to differing economic and political interests within the group, the creation of a new currency seems unlikely.