11.8°C Vancouver

Dec 2, 2024 1:07 PM - Connect Newsroom

Trump vows 100% tariff on BRICS bloc if dollar countered with new currency

Share On
trump-vows-100-tariff-on-brics-bloc-if-dollar-countered-with-new-currency
BRICS, formed in 2009, is the only major international group of which the US is not a part. Its members are India, Russia, China, Brazil, South Africa, Iran, Egypt, Ethiopia and the UAE.(Photo: The Canadian Press)

US President-elect Donald Trump has threatened BRICS countries of 100 per cent tariffs if they try to “move away from the US dollar and carry out international trade using a separate BRICS currency”.

In a post on X, Trump said, “The idea that the BRICS countries are trying to move away from the dollar while we stand by and watch is over. India, China, Russia, Brazil and South Africa are the key partners of BRICS.”

“We require a commitment from these countries that they will neither create a new BRICS currency nor back any other currency to replace the mighty US dollar or they will face 100% tariffs and should expect to say goodbye to selling (goods) to the wonderful US economy,” Trump warned.

“There is no chance that BRICS will replace the US dollar in international trade and any country that tries it should wave goodbye to America,” he added.

BRICS, formed in 2009, is the only major international group of which the US is not a part. Its members are India, Russia, China, Brazil, South Africa, Iran, Egypt, Ethiopia and the UAE. For the past few years, Russia and China have been seeking an alternative to the US dollar or creating a BRICS currency.

Latest news

trump-expresses-caution-on-missile-sales-as-zelenskyy-visits-washington
WorldOct 17, 2025

Trump expresses caution on missile sales as Zelenskyy visits Washington

U.S. President Donald Trump met Ukrainian President Volodymyr Zelenskyy at the White House on Friday, signalling reluctance to approve Ukraine’s request for long-range Tomahawk missiles. The talks focused on military aid and the ongoing war with Russia, as Kyiv continues to seek advanced weapons to bolster its defence. The meeting followed a lengthy phone conversation between Trump and Russian President Vladimir Putin a day earlier, during which the two discussed the conflict in Ukraine. While Trump had recently indicated a willingness to consider missile sales, he appeared to scale back exp
bank-of-canada-to-resume-economic-forecasts-with-cautious-outlook-amid-global-uncertainty
CanadaOct 17, 2025

Bank of Canada to resume economic forecasts with cautious outlook amid global uncertainty

Bank of Canada Governor Tiff Macklem says the central bank will take a cautious approach as it resumes formal economic forecasting later this month, acknowledging the need for “humility” in the face of continued trade uncertainty. The Bank of Canada is expected to release its next economic outlook alongside an interest rate announcement on October 29 its first full forecast this year. The central bank paused detailed projections earlier in 2025, citing unpredictable global conditions tied to U.S. tariffs and shifting trade relations. Speaking from Washington, D.C., where he is attending th
montreal-man-admits-to-threatening-parti-québécois-leader-and-his-family
CanadaOct 17, 2025

Montreal man admits to threatening Parti Québécois leader and his family

A Montreal resident has pleaded guilty to making death threats against Parti Québécois Leader Paul St-Pierre Plamondon and his family. Court records show that 42-year-old Philippe Clément-Laberge entered the plea on Tuesday at the Montreal courthouse. The threats were reportedly made in early March 2024, prompting a police investigation that led to his arrest shortly afterward. St-Pierre Plamondon publicly addressed the incident last year after news of the threats surfaced, saying he was concerned for his family’s safety but expressed confidence in the justice system’s response. The cas
reconstruction-approved-for-hazel-trembath-elementary-after-2023-fire
BCOct 17, 2025

Reconstruction approved for Hazel Trembath Elementary after 2023 fire

The British Columbia government has approved plans to rebuild Hazel Trembath Elementary School in Port Coquitlam, nearly two years after a fire destroyed the original building. Infrastructure Minister Bowinn Ma announced Friday that a new, 240-seat school will be constructed on the same site where the blaze occurred in October 2023. The province says the $39-million project will be developed through an accelerated model designed to shorten construction timelines, marking what officials describe as a first-of-its-kind approach in B.C. Ma said the school’s loss was deeply felt across the commu
ottawa-announces-plan-to-hire-1-000-new-border-officers-expand-benefits-for-frontline-responders
CanadaOct 17, 2025

Ottawa announces plan to hire 1,000 new border officers, expand benefits for frontline responders

Prime Minister Mark Carney says the federal government will move ahead with new border security and public safety investments as part of the upcoming federal budget, including hiring 1,000 additional Canada Border Services Agency (CBSA) officers. According to the announcement, the new officers will focus on curbing the movement of stolen goods, illegal firearms, and drugs, while enforcing import measures and investigating unfair trade practices. The government also plans to increase the CBSA recruit stipend from $125 to $525 per week the first raise since 2005 to attract and retain new recruit

Related News