President-elect Donald Trump has issued a direct threat to the BRICS countries, telling them to back off from any plans to create a new currency.
If they don’t, Trump says he’ll slap a brutal 100% tariff on their goods and cut them out of the US market for good. The warning comes as BRICS, led by his favorite frenemy Russia’s president Vladimir Putin, explores alternatives to the US dollar, something Trump has always made clear he won’t tolerate.
In a fiery post on Truth Social, the president said, “The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER.”
He straight up demanded a firm commitment from these countries that they would abandon any plans for a BRICS currency or any other system designed to replace the dollar. “If they refuse,” Trump warned, adding that:
“They should expect to say goodbye to selling into the wonderful U.S. economy. They can go find another ‘sucker!’ There is no chance that the BRICS will replace the U.S. Dollar in International Trade, and any Country that tries should wave goodbye to America.”
A global battle for currency control
Throughout his campaign, Trump hammered the idea that the US dollar must remain the world’s reserve currency. He has called any attempts to challenge the dollar a direct threat to the US economy. His response? Make it financially devastating for anyone who tries.
Trump’s team is already brainstorming ways to punish countries that trade in currencies other than the dollar. According to insiders, options on the table include labeling countries as currency manipulators, implementing strict export controls, and hitting them with heavy tariffs.
The goal is amusingly simple: make it so costly to abandon the dollar that no one dares to try. The BRICS have been vocal about their dissatisfaction with the dollar’s dominance.
Especially after US sanctions against Russia in 2022 made it clear how much leverage the US holds through its currency. During the annual summit Putin hosted in October this year, BRICS leaders discussed “de-dollarization.”
Tariff war incoming?
Trump’s strategy isn’t limited to BRICS. He’s threatening everyone. Over the past week, he outlined plans to impose a 10% tariff on goods from China and a massive 25% tariff on imports from Mexico and Canada.
These tariffs are tied to broader issues, including illegal immigration and drug trafficking. The president says he’ll implement these measures if those countries don’t step up efforts to secure US borders.
The impact of Trump’s threats is already being felt. Markets are jittery, and currencies like the Canadian dollar have taken a hit. Canadian Prime Minister Justin Trudeau rushed to Florida to meet with Trump after the tariff announcement.
Over a three-hour dinner at Mar-a-Lago, the two leaders discussed trade, border security, and energy projects, including the Keystone XL pipeline, which had been scrapped under the Biden administration.
Trudeau brought along his Public Safety Minister Dominic LeBlanc and his chief of staff Katie Telford. On the U.S. side, the dinner included key Trump allies like incoming National Security Adviser Mike Waltz and Commerce Secretary pick Howard Lutnick. Despite the talks, no resolution has been reached, and Trump’s tariff threats remain on the table.
Putin: Russia didn’t ditch the dollar—the U.S. ditched Russia
Meanwhile, Putin is actually pushing back against the narrative that Russia is trying to ditch the dollar. Speaking at the Valdai Discussion Club earlier this month, Putin said Russia never chose to move away from the dollar—it was forced to.
“We were merely denied the use of the dollar as a payment instrument,” he said, blaming the Biden administration for weaponizing the currency. He criticized America for undermining its own currency, calling the decision “foolish.”
According to Putin, the dollar has been a cornerstone of American power, and risking its dominance could backfire. He made it clear that Russia isn’t actively trying to replace the dollar but is preparing for a world where it’s no longer dominant.
“We’re not struggling with the U.S. currency,” he added. Instead, Russia is developing new tools and systems to adapt to a changing global economy.
For Trump, none of this matters. Whether BRICS nations are actively trying to replace the dollar or not, his stance is clear: any move away from the dollar will be met with severe consequences.
The situation is volatile. Trump hasn’t even taken office yet, and his threats are already shaking global markets. You can only imagine the effects when he does follow through with them.
From Zero to Web3 Pro: Your 90-Day Career Launch Plan
