Trump warns of imposing a 100% tariff on BRICS countries if they ditch the U.S. dollar

President-elect Donald Trump threatened to impose a 100% tariff on the BRICS alliance of non-Western countries if they move away from using the U.S. dollar for trade. The alliance, which includes Brazil, Russia, India, China, South Africa, and recently invited countries like Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates, has discussed reducing the influence of the U.S. dollar in global trade. Experts are skeptical that BRICS could successfully create their own currency due to infighting and economic differences between member nations. Despite this, some BRICS countries are major trading partners with the U.S., like China and India. Trump has also threatened to raise tariffs on Mexico, Canada, and China in separate posts on Truth Social, citing issues like the fentanyl crisis and drug trafficking. These threats have sparked responses from leaders of these countries, with Mexican President Claudia Sheinbaum emphasizing the need for cooperation instead of threats to address shared challenges like migration and drug consumption. Trump has also met with Canadian Prime Minister Justin Trudeau to discuss these issues, with Trump emphasizing the need to end the drug epidemic caused by drug cartels and fentanyl from China. He has also accused Sheinbaum of agreeing to stop immigration from Mexico, a claim disputed by Sheinbaum in her own recounting of their conversation.

Photo credit
www.nbcnews.com