Trump threatens 100% tariff on BRICS nations over dollar challenge

Donald Trump has threatened to impose a 100% tariff on nine BRICS nations if they attempt to create or support a currency to rival the U.S. dollar. The BRICS countries include Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, and the United Arab Emirates. This threat follows Trump's earlier proposals for tariffs on Canada, Mexico, and China. The BRICS nations aim to reduce their reliance on the dollar, which they view as a tool of U.S. influence, but creating a viable alternative currency is seen as challenging. South Africa's government has stated there are no plans for a new BRICS currency, emphasizing that discussions focus on using national currencies for trade. Economists warn that such tariffs could raise prices for U.S. consumers, impacting goods like coffee, electronics, and clothing.