French economist Jacques Sapir has weighed in on U.S. President-elect Donald Trump’s threats to impose 100% tariffs on imports from BRICS countries. In an interview with Russian publication Tass, Sapir pointed out the economic reliance of the U.S. on BRICS nations, which provide crucial goods including agricultural fertilizers, consumer electronics, and medicines.
“Donald Trump’s threats against countries that stop using the dollar are quite ridiculous,” he opined. Emphasizing that such tariffs would double the prices of essential goods in the United States, he noted:
The countries against which these threats are directed, namely the BRICS, provide the bulk of American imports.
Sapir cautioned that the U.S. strategy of maintaining dollar dominance through coercive trade policies risks backfiring. He noted, however, that Trump’s statements might not reflect his policies after taking office. The economist detailed:
The more the United States tries to protect the role of the dollar in international trade with the help of ‘administrative’ measures, the more they will emphasize the role of the dollar in their foreign policy and the more they will convince the BRICS countries of the need to find an alternative to the dollar.
His remarks align with those of Russian President Vladimir Putin, who recently criticized the political use of the dollar as a “mistake.” While acknowledging that a unified BRICS currency remains a distant goal due to structural and economic disparities, Putin noted that the bloc is increasingly seeking alternatives to the dollar to enhance economic sovereignty. Sapir believes Trump’s aggressive rhetoric might accelerate efforts by BRICS nations to reduce reliance on the U.S. currency, risking unintended consequences for the global financial system.