Trump’s Warning to India & BRICS: No Dollar Replacement, or Tariffs

Overview: Donald Trump warns India and BRICS nations of 100% tariffs if they support replacing the US dollar with a BRICS currency for global trade.

In a bold warning, former US President Donald Trump cautioned BRICS nations, including India, against supporting any move to replace the US dollar as the global reserve currency. Trump clarified that attempts to introduce a new BRICS currency could result in a 100% tariff on trade with the United States.

“The idea of BRICS moving away from the US dollar while we stand by is over,” Trump declared on the social platform Truth Social. “Any country that backs a BRICS currency or tries to replace the dollar should be ready for 100% tariffs and goodbye to the American market.”

What is BRICS?

BRICS, an international group formed in 2009, includes India, Brazil, Russia, China, and South Africa, with recent additions like Iran and Egypt. While China and Russia have actively promoted the creation of a BRICS currency, India has remained cautious and continues to value its strong trade ties with the US.

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India’s Stance On BRICS Currency And De-Dollarisation

Earlier this year, External Affairs Minister S. Jaishankar emphasized India’s stance. “The US is our biggest trade partner. We have no intention of weakening the dollar or joining any push for a BRICS currency,” he clarified.

Despite reports from Russia that a symbolic “BRICS currency note” was presented at the Kazan Summit, India’s focus remains on fostering strong economic ties with the dollar-driven global economy.

Trump’s stern message underscores America’s efforts to maintain the dollar’s dominance while challenging BRICS nations to reconsider their financial strategies. As BRICS members continue exploring financial independence, the warning may impact future trade negotiations and global economic policies.