US President-elect Donald Trump has issued a stern warning to BRICS, urging its members to abandon plans to create an alternative currency to replace the US dollar in international trade.
Trump, known for his “America First” stance, has reiterated that any move in this direction would face severe consequences. These include a 100% tariff on products from BRICS countries and the inability to access the US market.
BRICS faces resistance from Trump to de-dollarization efforts
In a November 30 post on his Truth Social platform, Trump called for a firm commitment from BRICS countries not to develop or support a rival currency. He stressed that the US would not tolerate efforts to undermine the dollar’s dominance.
“The idea that BRICS countries are trying to move away from the dollar while we watch is UNACCEPTABLE. We demand a commitment from these countries that they will not create a new BRICS currency, nor support any other currency to replace the mighty US dollar or they will face 100% tariffs and should expect to say goodbye to selling out to the wonderful US economy,” he stated.
The warning is in line with Trump’s campaign promise to protect the US dollar’s status as a global reserve currency. Reports suggest his team is already exploring punitive measures for countries that move forward with de-dollarization strategies.
The BRICS bloc — comprised of Brazil, Russia, India, China and South Africa — has been leading discussions on de-dollarization since 2023. Those talks gained momentum during a summit where member nations explored alternative settlement mechanisms, including the use of the Chinese yuan and blockchain-based stablecoins.
Market analysts have pointed out that such digital currencies could circumvent US sanctions and offer a new model for international trade.
This year, BRICS expanded its membership for the first time in more than a decade, adding Iran, Saudi Arabia, the United Arab Emirates, Ethiopia and Egypt. With 34 additional nations expressing interest in joining, the bloc aims to strengthen its influence in the global economy. By leveraging local currencies and alternative banking networks, member states hope to reduce dependence on the U.S. dollar while avoiding Western sanctions.
Observers note that these initiatives could reshape the dynamics of international trade. However, Trump’s firm stance signals a potential escalation in economic tensions between the US and the BRICS nations.
The article Donald Trump criticizes BRICS crypto plan and makes threats was first seen on BeInCrypto Brazil.