DONALD Trump, never one to mince words, has set his sights on the BRICS coalition -- an alliance of emerging economies spearheaded by China, Brazil, India and Russia. The US president-elect declared on Truth Social that BRICS nations would face 100 percent tariffs if they dared to pursue a unified currency or back alternatives to the US dollar.
'The idea that BRICS countries are trying to move away from the dollar while we stand by and watch is over,' Trump proclaimed. He called for an unequivocal commitment to the dollar's supremacy, warning that defiance could mean a swift exit from the lucrative US market.
initially composed of Brazil, Russia, India, China and South Africa, expanded this year to include Iran, the UAE, Ethiopia and Egypt. With over 30 additional countries expressing interest, the bloc is drawing global attention. Brazil's President Luiz Inácio Lula da Silva even floated the idea of a South American common currency in 2023 to lessen dependence on the dollar. While the BRICS currency concept might sound bold, its reality is complicated.
Economic Gambit: BRICS Tariffs And Global Stakes
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