Trump threatens 100% tariffs on BRICS nations over currency alternatives

On November 30, President-elect Donald Trump threatened to impose 100% tariffs on BRICS countries if they attempt to create a new currency to replace the US dollar. This marks a significant escalation in the US's stance on its currency's dominance. Trump's comments come as BRICS nations, including India and Brazil, explore alternatives to the dollar for trade. The US dollar has been the world's primary reserve currency since World War II, but its dominance is declining amid geopolitical shifts. Experts warn that such tariffs could harm US consumers and disrupt global trade. They note that the move may not effectively deter countries from seeking alternatives to the dollar, as economic diversification continues.