Trump to counter BRICS countries new currency move with 100pc tariff

KABUL (Pajhwok): US President-elect Donald Trump has threatened to slap 100 percent tariffs on products coming from BRICS countries if the economic block decided to create a new currency.

On its social media handle x.com, Trump wrote: “The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER. We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful US Economy,” Trump posted on Truth Social on Saturday afternoon.

BRICS had been made up of Brazil, Russia, India, China and South Africa since 2011. Earlier this year, Iran, Saudi Arabia, the United Arab Emirates, Ethiopia and Egypt formally joined — the first expansion in over a decade.

This comes as Russian President Vladimir Putin unveiled a prototype of the proposed BRICS banknote during a BRICS summit in November this year.

nh