Trump threatens 100% tariffs on Brics nations over new currency plans

Donald Trump, the US president-elect, has threatened to impose 100% tariffs on Brics nations if they create a new currency to rival the US dollar. He stated that these countries must commit to not supporting any alternative currency. This warning follows Trump's announcement of tariffs on Canada, Mexico, and China after his inauguration. The Brics group includes Brazil, Russia, India, China, South Africa, and new members like Egypt and Iran, some of whom are interested in reducing reliance on the dollar. If implemented, the tariffs could significantly increase the cost of goods from Brics nations, potentially raising US inflation and disrupting global trade. Trump's approach reflects his "America First" policy, aiming to reshape global trade dynamics.