Trump Warns BRICS Against Challenging U.S. Dollar Dominance

Former U.S. President Donald Trump has warned the BRICS nations—Brazil, Russia, India, China, and South Africa—over their ongoing efforts to reduce reliance on the U.S. dollar in global trade. In a statement posted on his timeline, Trump criticized the bloc’s ambitions to create a new currency or back alternatives that might undermine the dollar’s dominance.

Trump declared, “The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER.” He further called for a commitment from BRICS members to refrain from pursuing such measures, threatening 100% tariffs on their goods and a potential loss of access to the U.S. market.

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The former president described the U.S. economy as “wonderful” and dismissed the possibility of the BRICS nations replacing the dollar in international trade. He warned, “Any Country that tries should wave goodbye to America.”

Background on BRICS and the Push Against the Dollar

The BRICS bloc has been increasingly vocal about its dissatisfaction with the U.S. dollar’s dominance in global finance. At their recent summits, the group discussed plans to establish a common currency for trade and investments to reduce dependency on the dollar, which they argue exposes them to external economic vulnerabilities and U.S. sanctions.

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The dollar’s dominance has long been a pillar of U.S. geopolitical and economic influence, with nearly 60% of global reserves and a significant share of international trade denominated in the currency. However, recent geopolitical shifts—including strained U.S.-China relations, Western sanctions against Russia, and calls for multipolarity in global governance—have motivated BRICS to explore alternatives.

While the creation of a BRICS currency remains in the exploratory phase, several nations have already begun settling trade in local currencies, especially between Russia and China. Experts suggest that such moves, while unlikely to dethrone the dollar soon, signal a growing fragmentation of the global financial system.

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Trump’s comments reflect concerns among U.S. policymakers about the long-term implications of these developments, which could erode America’s economic leverage and diminish the dollar’s role as the world’s reserve currency.

The issue is expected to remain a contentious one as BRICS continues to expand its membership and economic influence, further challenging the traditional dominance of Western-led financial institutions.

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