Go find another 'sucker': Trump threatens 100% tariff on BRICS countries over Dollar alternatives

In a rather stern warning to the BRICS nations—Brazil, Russia, India, China, and South Africa—President-elect Donald Trump has threatened 100% tariffs on their exports to the United States if they pursue efforts to replace the U.S. dollar in global trade.

In a post on X (formerly Twitter), Trump said that any attempt by BRICS to create a new currency or support alternatives to the dollar would lead to severe consequences. “The idea that the BRICS countries are trying to move away from the dollar while we stand by and watch is OVER,” Trump wrote.

Trump’s warning comes on the heels of last month’s BRICS summit in Kazan, Russia, where the bloc discussed strategies to boost non-dollar transactions and enhance the use of local currencies.


He reiterated that BRICS nations must commit to doing away with such efforts or face not only crippling tariffs but also the potential loss of access to the U.S. market altogether.

“They can go find another ‘sucker!’” Trump said while adding, "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."


Also Read: Donald Trump's 100% BRICS Tariff threats: How India could be affected in a renewed trade war

At the BRICS...

The summit also highlighted the BRICS Cross-Border Payments Initiative, a framework to strengthen correspondent banking networks and enable settlements in domestic currencies.

Despite these ambitions, Russian President Vladimir Putin indicated limited progress on creating a unified BRICS currency or an alternative to the Belgium-based SWIFT financial messaging system.

"As for SWIFT and any alternatives, we have not created and are not creating any alternatives," Putin said. He further clarified, "As for a unified BRICS currency, we are not considering that question at the moment."

The BRICS bloc, which began with five founding nations in 2009, has expanded significantly, now representing a notable portion of global economic output. Collectively, the coalition seeks to reduce reliance on the dollar, a goal that has raised alarm in Washington.