Trump said that if BRICS replace the dollar, they will face 100% tariffs.

Trump said that if BRICS replace the dollar, they will face 100% tariffs.
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US President Donald  Trump on  Thursday threatened  developing countries in the BRICS group with  100% tariffs if they  abandon the US dollar as  a means of  international payment. "The idea that the BRICS countries are trying to  get away from the  dollar while we  sit back and  do nothing is over," Donald Trump  said on his social media platform, Truth Social. "We  will assume that these seemingly hostile countries will  commit to not creating a new BRICS currency  or supporting another currency to replace the mighty US dollar.  "Otherwise, they will face  100% tariffs and  can expect to  kiss the  great American economy goodbye," Trump continued. The acronym BRICS is derived from the initial letters of the founding member  countries, Brazil, Russia, India,  China and South Africa. In early 2024, Iran, Ethiopia,  Egypt and the United Arab Emirates joined  the BRICS, while Indonesia joined  in early January. Related News Trump reiterates BRICS  tariff threat Trump insists  Egypt and Jordan will  welcome Gazans Gold price hits new record The group aims to  serve as a counterweight to the Group of Seven (G7) of  major Western economic powers. Russian President Vladimir Putin has repeatedly  criticized the dominance of the US currency and announced his intention to  create an independent payment and clearing system within the alliance. The US dollar is by far the most important in global payment transactions. By introducing another non-Western currency, Moscow hopes to be less affected by sanctions imposed on Russia by the West over its war in Ukraine. Tariffs are a type of surcharge on imported goods. They are paid  when the goods enter the country. Trump imposed a  series of tariffs on imported goods during his first  term, from 2017 to 2021. Economists assume that  the sweeping tariffs  will lead to  higher prices in the  United States. (NAN)

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