President Donald Trump warned BRIC member countries against the replacement of the US dollar on Thursday as a global reserve currency, reiterating a threat of 100% tariffs he had issued after winning the US elections in November.
In an article on the social media platform Verification, Trump said: “We are going to demand a commitment from these apparently hostile countries that they will not create a new odds and end for 100% of the prices.”
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In December 2024, Russia had declared that any attempt to force the countries of the BRICS to use the dollar would only strengthen the request for national currencies.
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A study of the Atlantic Council Center of Geoeconomics in 2024 showed that there was a global dependence on the US dollar as the main reserve currency. He also proved that the euro and attempts to train alternative currencies had failed to disengage the US dollar.
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The member countries of the BRICS include Brazil, Russia, India, China and South Africa, Egypt, Ethiopia, Iran, Indonesia and the United Arab Emirates. The group has no common currency, but discussions have grown after Russia was imposed on the sanctions of several Western countries due to the war in Ukraine.
A global push against the domination of the dollar was stimulated by the American economy which has performed well, modifying taxation and monetary policies and geopolitical crises, Reuters reported.
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Donald Trump is also committed to imposing 25% prices on neighboring countries in Canada and Mexico from February 1 to slow down the entry of illegal immigrants and opioids such as fentanyl.
The American president also threatened China that they will impose a 10% rate on imports, saying that the role of the country as a supplier of Fentanyl was harmful to America.
