Trump Warns BRICS With 150% Tariffs Over Alternative Currency Plans

U.S. President Donald Trump has claimed that he threatened BRICS nations with 150% tariffs for attempting to establish an alternative to the U.S. dollar. Speaking at the Republican Governors Association meeting in Washington, Trump stated that the bloc—comprising Brazil, Russia, India, China, and South Africa—had plans to replace the dollar with a new currency, possibly centered around the Chinese yuan.

“The BRICS countries were trying to undermine our dollar,” Trump said. “I made it clear that any nation even discussing such a move would face a 150% tariff. We don’t need their goods.”

Trump asserted that following his warning, there was no further discussion from BRICS regarding their currency plans.

Previously, Trump had suggested imposing 100% tariffs on BRICS nations if they moved away from the dollar for global trade. He reiterated that any such attempt would mean “goodbye to America” for those economies.

The BRICS bloc has long explored options to reduce dependence on the U.S. dollar, with discussions on trade settlements in local currencies and a potential BRICS currency. However, Trump’s remarks signal a strong U.S. stance against any shift away from the dollar-dominated financial system.

Impact on Global Trade

Trump’s statements could heighten economic tensions between the U.S. and BRICS nations, especially as these countries continue expanding trade agreements that minimize reliance on the dollar. China and Russia have already increased trade using the yuan, while Brazil and India have also explored alternative currency arrangements.

With BRICS planning to expand its membership and strengthen economic alliances, global markets will closely watch whether the bloc proceeds with de-dollarization despite U.S. threats.