Trump warns of imposing a 100% tariff on BRICS countries if they ditch the U.S. dollar

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President-elect Donald Trump threatened to impose a 100% tariff on the BRICS coalition of non-Western countries if they move away from trading using the U.S. dollar. The BRICS alliance, comprising Brazil, Russia, India, China, and South Africa, discussed the idea of de-dollarization at a summit in 2023, with some members being significant trading partners with the U.S. Experts are skeptical about BRICS creating its own currency due to internal conflicts and economic differences between member nations. This is the second time Trump has threatened tariffs this week, with plans for a 25% tariff on Mexico and Canada to address the fentanyl crisis, as well as a 10% tariff on China for drug-related issues. In response, Canadian Prime Minister Trudeau visited Trump to discuss the drug epidemic. Mexican President Sheinbaum emphasized the need for cooperation to address migration issues instead of threats. Trump and Sheinbaum had a conversation, with conflicting reports about whether Mexico agreed to stop immigration into the U.S. Overall, Trump’s stance on tariffs and trade negotiations with various countries, including the BRICS alliance, has sparked controversy and discussions about cooperation to address global challenges such as the drug epidemic and migration.

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