Trump warns BRICS countries of 100% tariff if they ditch U.S. dollar

President-elect Donald Trump threatened to impose a 100% tariff on the BRICS coalition if they move away from trading in U.S. dollars. The BRICS alliance includes Brazil, Russia, India, China, and South Africa, with additional countries invited to join in 2023. The issue of de-dollarization has been discussed within the group, but experts doubt their ability to create a new global currency given the differences between member nations. India and China, among others, are major trading partners of the U.S. Trump also threatened to raise tariffs on Mexico and China to combat the fentanyl crisis. He met with Canadian Prime Minister Justin Trudeau, and Mexican President Claudia Sheinbaum expressed the need for cooperation rather than threats to address migration and drug consumption. Trump claimed Sheinbaum agreed to stop immigration, but she stated Mexico’s commitment to respecting human rights and building bridges. The discussions highlight the complex relationship between the U.S. and its trading partners, as well as the challenges of addressing global issues such as currency dominance and drug epidemics through tariffs and trade policies.

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