Donald Trump has warned BRICS nations they could face tariffs up to 100% if they push forward with plans for a new currency. His comments come as the group—Brazil, Russia, India, China, and South Africa—explores ways to reduce reliance on the U.S. dollar.
The economic bloc has been expanding its influence, with reports suggesting it discussed a shared currency at a summit in Kazan, Russia, last October. However, Kremlin officials say there are no solid plans for one yet.
Trump’s warning reflects Washington’s concern over BRICS shifting away from the dollar and gaining economic power. While talks continue, it’s unclear if the bloc will move ahead with the idea anytime soon.
