New York: U.S. President Donald Trump has reiterated his warning to BRICS nations, including India, against replacing the U.S. dollar with an alternative currency. Speaking after being sworn in as the 47th President on Monday, Trump declared that any such move would result in a 100% tariff on trade with the U.S.
“If BRICS nations want to pursue this path, that’s fine. But when they engage in trade with the United States, we will impose at least a 100% tariff,” Trump said. He emphasized that even the mere contemplation of reducing the global reliance on the dollar would trigger such penalties.
The BRICS bloc, which now includes Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the UAE, had previously faced similar warnings from Trump in December.
“We demand these nations abandon plans for a new BRICS currency and reaffirm their support for the strong U.S. dollar. If they fail to comply, they will face 100% tariffs, and they can forget about selling their products in the American market,” Trump added.
India has previously distanced itself from such proposals. In December, External Affairs Minister S. Jaishankar clarified that India does not support replacing the U.S. dollar or creating a new BRICS currency.
