Mon Dec 02 06:23:26 UTC 2024: ## Trump Threatens 100% Tariffs on BRICS Nations Over Potential Rival Currency

**Washington D.C.** – President-elect Donald Trump has issued a stark warning to the BRICS nations, threatening to impose 100% tariffs on their goods if they proceed with plans to create a currency that would challenge the US dollar’s global dominance.

In a post on his Truth Social platform, Trump declared that the idea of BRICS nations – including China, Russia, Brazil, India, South Africa, Iran, Egypt, Ethiopia, and the UAE – moving away from the dollar is “OVER.” He stated that the countries must commit to neither creating a new BRICS currency nor supporting any alternative to the US dollar, or face the tariffs and a ban from the US market.

While leading politicians within the BRICS alliance have discussed the creation of a new currency to lessen the US dollar’s influence in international trade, internal disagreements have hampered progress. Trump’s threat represents a significant escalation of his previously stated intentions to utilize tariffs as a key economic tool.

This latest announcement comes amidst a backdrop of Trump’s increased use of tariff threats in recent days. His actions have been interpreted in various ways, with some allies suggesting they are strategic negotiation tactics designed to secure favorable outcomes. Republican Senator Ted Cruz, for example, highlighted the effectiveness of such leverage, citing the impact of threatened tariffs on Mexico and Canada. Indeed, Canadian Prime Minister Justin Trudeau made a recent unscheduled visit to Trump’s Mar-a-Lago estate, seemingly in an attempt to preempt potential tariffs on Canadian goods.

Trump’s nominee for Treasury Secretary, Scott Bessent, has also indicated that the president-elect’s tariff threats are part of a broader negotiating strategy, suggesting a “escalate to de-escalate” approach. However, economists widely refute Trump’s claim that such tariffs are borne solely by foreign countries; the burden ultimately falls on US businesses and consumers in the form of higher prices. Despite this, Trump maintains that tariffs are a crucial component of his economic policy, designed to boost the US economy, protect jobs, and increase tax revenue. Many of the tariffs imposed during his first term remain in effect under the current administration.

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