Trump warns BRICS countries if they try to replace the dollar: ‘100% tax’
Peter Navarro talks about taxes on FOX Business Network.
President-elect Trump on Saturday threatened “100% tariffs” on the countries known as BRICS – Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates – if they try to shut down or relocate. away from the US dollar.
The idea that the BRICS countries are trying to move away from the Dollar while we stand by and watch is OVER,” Trump wrote on Truth Social on Saturday afternoon.
He continued, “We need a commitment from these countries that they will not create a new BRICS Currency, or bring another Currency to replace the strong US Dollar or, they will face a 100% tax, and they should wait to say goodbye to sell. The US economy is amazing.”
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President-elect Trump on Saturday warned the group of countries known as BRICS – Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates – if they try to close or move away from the US dollar. (Allison Robbert/Pool via AP, File/AP Newsroom)
“They can go find another “sucker!” There is no chance that BRICS will replace the US Dollar in international trade, and any country that tries should say goodbye to America,” he wrote.
After the US imposed crippling sanctions on Russia over its invasion of Ukraine in 2022, the group of countries began discussing dependence on the dollar, according to Politico.
Replacing the dollar has been a goal of the BRICS group for years, but in the past it has been hampered by disputes between the various countries.
After the US imposed crippling sanctions on Russia over its invasion of Ukraine in 2022, the group of countries began to discuss increasing dependence on the dollar. (Getty Images / Getty Images)
TRUMP’S PROPOSED TARIFFS ON MEXICO, CANADA, CHINA WILL CAUSE INFLATION, GOLDMAN SACHS WARNS
The US dollar is the most widely used currency in the world economy.
Trump also threatened 25% tariffs on Mexico and Canada over illegal immigration and the flow of illegal drugs across the US’s northern and southern borders.
Trump said he had a “very productive” conversation with Canadian Prime Minister Justin Trudeau. (Dan Kitwood/Getty Images)
He has spoken with Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau.
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Sheinbaum said he believed a tariff war could be avoided and Trump called his conversation with Trudeau “very productive,” but neither leader clarified whether a decision had been made on tariffs.
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