Trump Warns BRICS of 100% Tariffs Over Dollar Loyalty

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Source: Financial Times
Trump Warns BRICS of 100% Tariffs Over Dollar Loyalty
Photo: Financial Times
TL;DR Summary

US President-elect Donald Trump has threatened to impose 100% tariffs on BRICS nations if they pursue creating a new currency to rival the US dollar. The BRICS group, which includes Brazil, Russia, India, China, and South Africa, among others, has been considering alternatives to the dollar as the world's reserve currency. Trump's threats are part of a broader strategy to use tariffs as leverage in international trade, following similar threats against Mexico, Canada, and China.

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