Trump Threatens Massive Tariffs Against Nations If They Move Away From Dollar
Charlie Kirk Staff
12/01/2024

President-elect Donald Trump warned that he would impose a 100% tariff on several emerging-market countries if they attempt to shift away from trading in U.S. dollars.
“The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER,” Trump said in a post on social media. “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 U.S. Economy.”
“They can go find another ‘sucker!’” he added. “There is no chance that the BRICS will replace the U.S. Dollar in International Trade, and any Country that tries should wave goodbye to America.”
BRICS, originally comprising Brazil, Russia, India, China, and South Africa, expanded last year to include Iran, Saudi Arabia, the United Arab Emirates, Argentina, Egypt, and Ethiopia.
These nations have expressed a desire to reduce U.S. influence globally by moving away from using the U.S. dollar for trade. However, internal disagreements among member countries have hindered progress toward that goal.
There are also “major differences in the way the countries run their economies and financial institutions” that complicate any plans for them to create their own currency, NBC News reported.
The statement from Trump comes after he threatened Canada, Mexico, and China with tariffs if they did not work to stem the flow of illegal aliens and drugs coming into the U.S.
According to Bloomberg News, Trump and his economic advisers have been exploring measures to penalize countries that attempt to move away from the U.S. dollar. Potential actions include imposing export controls, accusing nations of currency manipulation, and implementing trade tariffs.
Trump told CNBC in March that he will “not allow countries to go off the dollar because when we lose that standard, that will be like losing a revolutionary war, that will be a hit to our country just like losing a war and we can’t let that happen and too many countries now are fighting to get off the dollar.
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