Trump issues a strong warning to BRICS if they try to play with the dollar

The President of the United States, Donald Trump, has strongly criticized the BRICS bloc (Brazil, Russia, India, China, and South Africa), stating that it was created with a negative purpose and that most member countries don't support it.

In a recent press conference, Trump declared that the bloc is "dead," mentioning the consequences of trying to replace the US dollar with another currency.

According to Trump, if the BRICS countries try to challenge the dollar, he would impose a 100% tariff on any trade with them, highlighting that the bloc countries "don't want to play" with the dollar, and if they try, they will regret it.

In a post on his social network Truth Social, Trump stated that the BRICS countries will not succeed in replacing the dollar in international trade. He added that any nation attempting to challenge the dollar's hegemony should "say farewell to the US economy" and look for another nation to accept them.

This comment from Trump is part of his focus on the importance of the dollar in the global economy, a stance he has defended on multiple occasions.

In his statements, he rejected the idea that the United States is in a vulnerable position against the BRICS members, arguing that the bloc countries depend on US markets and that the North American nation has the ability to impose economic sanctions on those countries if they attempt to replace the dollar.

Trump referred to previous statements by President Joe Biden, who had hinted that the BRICS countries might have an advantage in this matter. Trump insisted that, in reality, the BRICS countries are in a weaker position because they depend on trade relations with the United States.

Trump's stance is linked to the recent efforts of the BRICS countries to promote dedollarization. At the 15th BRICS Summit in 2023, Russian President Vladimir Putin urged the bloc members to expand payments in national currencies and to strengthen banking cooperation among member countries.

Additionally, at a meeting of BRICS foreign ministers in Russia in June 2024, the importance of increasing the use of local currencies in bilateral and multilateral trade was also discussed.

Trump has been consistent in his warnings to the BRICS countries since before assuming the presidency of the United States, stating on several occasions that these countries would face strong economic sanctions if they attempt to create an alternative currency to the dollar.

Although the BRICS bloc members have expressed their interest in reducing dependence on the dollar, especially in their internal trade transactions, Trump's rejection of any dedollarization attempt reflects the importance of the US currency in global trade.

This stance by President Trump complements the warning issued to Mexico and Canada to increase their import tariffs to 50% on products like steel and aluminum.

Unlike the BRICS countries, the warning to neighboring countries stems from the lack of commitment they showed to strengthening border security and combating drug trafficking and other illegal industries.