Donald Trump has warned BRICS nations against abandoning the U.S. dollar, threatening 100% tariffs on their exports. His stance reinforces concerns over de-dollarisation as BRICS explores alternative currencies. While Trump insists on the dollar’s dominance, experts warn tariffs could harm U.S. consumers and global trade stability.
Former U.S. President Donald Trump has issued a strong warning to BRICS nations against moving away from the U.S. dollar in global trade. In a fiery statement, Trump threatened 100% tariffs on exports from countries that support de-dollarisation, declaring that they should “find another sucker nation.”
The BRICS bloc—Brazil, Russia, India, China, and South Africa—has long explored alternatives to the dollar, with recent expansions including Egypt, Ethiopia, Indonesia, Iran, and the UAE. Leaders within the group have promoted trade in local currencies, with Russian President Vladimir Putin advocating for de-dollarisation at the 2023 BRICS Summit.
Trump’s latest remarks reiterate a stance he took in November 2024, shortly after his election victory. He has argued that maintaining the dollar’s dominance is essential for U.S. economic strength and has previously used tariffs as leverage in trade disputes, including against Canada and Mexico.
While BRICS has increased efforts to reduce reliance on the dollar, the currency remains the world’s primary reserve. A study by the Atlantic Council found that neither BRICS nations nor the euro have significantly impacted its global role.
Trump’s aggressive rhetoric signals a potential shift in U.S. trade policy, but economic experts warn that high tariffs could increase costs for American consumers. His protectionist stance, aimed at bringing jobs back to the U.S., continues to divide opinions among economists and policymakers.
As BRICS nations push for financial independence, the debate over de-dollarisation remains a critical issue in global trade.
