President-elect Donald Trump has drawn a clear line, warning the BRICS bloc not to push plans to bypass the U.S. dollar in global trade.
In a fiery post on his Truth Social platform on November 30, Trump declared that any efforts by BRICS countries to create an alternative currency or support a rival monetary system would face serious consequences, including a 100% tariff on their goods and restrictions on access to the U.S. market.
"The idea that BRICS countries are trying to move away from the dollar while we stand by is OVER,"
Trump writes, emphasizing his commitment to protecting the dollar's global dominance.
This statement reinforces Trump's long-standing 'America First' approach, which has shaped his economic and foreign policy vision. His team is reportedly beginning to build sanctions to counter de-dollarization strategies.
The BRICS bloc — consisting of Brazil, Russia, India, China, and South Africa — has been actively exploring alternatives to the dollar since 2023. At the pivotal summit that year, member nations discussed mechanisms such as trade payments in local currencies, adopting China's yuan, and even developing blockchain-based stablecoins.
Their argument is clear: reduce dependence on the U.S. dollar and protect their economies from Western sanctions. The bloc's ambitions gained further momentum this year as it expanded its membership for the first time in over a decade, adding major economies like Saudi Arabia and the UAE, along with Iran, Ethiopia, and Egypt. With 34 more countries expressing interest in joining, BRICS is positioning itself as a formidable counterweight to Western economic influence.
Market analysts suggest that blockchain-based currencies could help the bloc avoid sanctions and provide a new framework for international trade. However, such moves directly challenge the dollar's reserve status, the foundation of U.S. economic power.
Trump's hardline stance, while anticipated, signals a potential escalation in global economic tensions. The tariffs he proposed could disrupt trade with BRICS nations, which account for over 40% of the global population and are increasingly significant in global GDP. On the other hand, the rising influence of BRICS and alternative banking networks may encourage member countries to move forward despite the risks.
Observers warn that this confrontation could reshape the international financial landscape. If BRICS succeeds in creating a trade system not centered on the dollar, the spillover effect could weaken the United States' influence on global economic governance. Conversely, Trump's aggressive policies may deter smaller nations from participating in the bloc's efforts to de-dollarize.
As Trump prepares to take office in January, the simmering conflict between the U.S. and BRICS may emerge as a defining issue of his presidency — and a pivotal moment in the evolution of global trade.
