Donald Trump Threatens BRICS Countries—Including Russia, India—With 100% Tariffs
ForbesDec 01
Trump Threatens BRICS Nations with 100% Tariff
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Above: Donald Trump attends a viewing of the launch of the sixth test flight of the SpaceX Starship rocket on Nov. 19, 2024 in Brownsville, Texas. Image copyright: Brandon Bell/Staff/Getty Images News via Getty Images
The Facts
US Pres.-elect Donald Trump on Saturday threatened to impose 100% tariffs on imports from BRICS nations if they attempt to "create a new BRICS Currency" or support any replacement of the dollar in international trade.
In a post on Truth Social, Trump wrote: "They can go find another "sucker!" There is no chance that the BRICS will replace the U.S. Dollar in International Trade," adding that, "any Country that tries should wave goodbye to America."
The Spin
Pro-Trump narrative
This approach to trade reflects Trump's broader 'America First' economic policy. The BRICS alliance represents a direct challenge to US economic dominance. It must be prevented from undermining the dollar's global position through the creation of alternative currencies that could help rogue nations like Russia and Iran circumvent Western sanctions.
Anti-Trump narrative
Trump's threat is unrealistic, as massive tariffs would harm US consumers through higher prices and damage crucial international trade relationships. His announcement is more of an opening bid than a promise, as it's unclear if BRICS will create any alternatives to the US dollar, given the significant economic and political differences among member nations.
