Trump warns BRICS: 100% tariffs if they challenge the dollar

U.S. President Donald Trump has again warned of steep tariffs if BRICS nations attempt to challenge the dominance of the U.S. dollar, dismissing the bloc as “dead.”

“If they want to play games with the dollar, they’re going to be hit with a 100% tariff,” Trump said on February 13 ahead of his meeting with Indian Prime Minister Narendra Modi, Caliber.az reports per US media.

His comments come as BRICS members explore ways to reduce reliance on the U.S. dollar for international trade. However, the group has no immediate plans for a common currency. “Talks on a common currency have not taken place and are not taking place now,” Kremlin spokesperson Dmitry Peskov said in January.

Since returning to office in January, Trump has imposed new tariffs, including a 10% levy on Chinese goods and a 25% tariff on steel and aluminium imports. He has also ordered a broad study of global trade practices, with results expected by April.

Despite internal divisions, BRICS has expanded its influence, adding Indonesia, Egypt, Ethiopia, Iran, and the UAE as members. “Countries see BRICS as a counterweight to the U.S.-led system,” an analyst said.

Yet, economists remain sceptical about any challenge to the dollar’s dominance. “A BRICS currency is just ridiculous,” said Jim O’Neill, the economist who coined the term BRIC in 2001.

By Aghakazim Guliyev