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President Donald Trump has issued a stern warning to BRICS nations, threatening 100% tariffs if they proceed with plans to establish a gold-backed currency as an alternative to the U.S. dollar. In a fiery post on Truth Social, Trump declared that any attempt to challenge the dollar’s dominance in international trade would be met with severe economic consequences.

Trump's Warning to BRICS Nations

"The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER," Trump wrote on Thursday. "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."

Trump also warned that countries moving away from the dollar should "say hello to Tariffs, and goodbye to America!" He suggested that BRICS nations would be cut off from the U.S. economy if they pursued an independent currency system, adding, "They can go find another sucker Nation."

BRICS and the Proposed Gold-Backed Currency

BRICS, originally founded in 2009, is an economic alliance consisting of Brazil, Russia, India, China, and South Africa. The coalition has since expanded to include Egypt, Ethiopia, Iran, Indonesia, and the United Arab Emirates.

The idea of a BRICS currency was discussed during the 2024 BRICS Summit in Russia, where leaders explored the possibility of introducing a gold-backed alternative to the dollar. According to reports from Nasdaq-affiliated Investing News Network, the proposed currency could empower BRICS nations by reducing reliance on the dollar while strengthening their influence within the global financial system.

Escalating Trade Tensions

Trump's latest tariff threat follows a similar warning issued in December when he vowed to take immediate action against China, Canada, and Mexico if they pursued financial policies that undermined the U.S. economy. His stance signals a broader strategy of economic protectionism aimed at preserving the dollar’s dominance in global trade.

A representative for the BRICS business council did not immediately respond to requests for comment on Friday.