Trump threatens tariffs on BRICS nations over dollar abandonment plans

President-elect Donald Trump has threatened to impose a 100 percent tariff on BRICS nations if they abandon the U.S. dollar as the main global reserve currency. This statement highlights ongoing tensions as BRICS countries, including Brazil and China, explore alternatives to the dollar. BRICS has been working on reducing reliance on the dollar, especially after Russia's invasion of Ukraine. However, internal trade among BRICS nations accounts for only about 1 percent of global trade, and the U.S. dollar still dominates with around 60 percent of foreign exchange reserves. Despite Trump's threats, BRICS leaders recently downplayed plans for a new unified currency. The U.S. dollar remains strong, bolstered by foreign investment and economic policies, while currencies of BRICS members have weakened against the dollar.