Trump Threatens Nigeria, BRICS With 100% Tariffs Over Plans To Ditch U.S. Dollar
The United States President, Donald Trump, has reiterated his threat to impose a 100% tariff on members of the political and economic bloc known BRICS if they ditch the dollar.
Trump’s threat comes amid conversations on global de-dollarization as BRICS countries are trying to ditch the American dollar in favour of other currencies.
BRICS is an acronym for the founding members of Brazil, Russia, India and China, with South Africa added a year later.
The conversation around the use of the dollar is championed by Russian President, Vladimir Putin, who openly backed a review of the use of the dollar in trade.
At the 15th BRICS Summit in 2023, Putin said BRICS nations “must expand settlements in national currencies and enhance cooperation between banks.”
Putin and China have also hinted on the possibility of moving over to Euro, the second most-dominantly used currency in the world, while the ultimate goal is to have a separate currency for BRICS.
In view of this, Trump in December 2024, after his re-election, vowed to impose 100% tariffs on all BRICS countries if they move on with their decision to abandon the dollar.
He repeated the threats on Friday, in a post on his Truth Social platform, stating that the countries will also be barred from trading in the U.S.
“The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER.
“We are going to require a commitment from these seemingly hostile Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy.
“They can go find another sucker Nation. There is no chance that BRICS will replace the U.S. Dollar in International Trade, or anywhere else, and any Country that tries should say hello to Tariffs, and goodbye to America!,” Trump wrote.
The BRICS economic collaboration has only intensified since 2022 when Western sanctions were imposed on Russia following its invasion of Ukraine.
What began as a five-member group is now expanding with the integration of five new members and nine new partner countries including Nigeria, which was announced as a partner nation on January 17, 2025.
Nigeria joined the likes of Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan as BRICS’ partner nations.
Trump Threatens Nigeria, BRICS With 100% Tariffs Over Plans To Ditch U.S. Dollar is first published on The Whistler Newspaper
