Diyar Guldogan
31 January 2025•Update: 31 January 2025
WASHINGTON
President Donald Trump said on Thursday that there is no chance for BRICS countries to replace the US dollar.
"The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER," Trump said on the social media platform Truth Social, referring to the economic alliance of Brazil, Russia, India, China, and South Africa -- now expanded to include Iran, Egypt, Ethiopia, Indonesia, and the United Arab Emirates.
The US is going to require a commitment from "seemingly hostile" BRICS countries that they will neither create a new BRICS currency nor back any other currency to replace the US dollar, or they will face 100% tariffs, he added.
"They can go find another sucker Nation. There is no chance that BRICS will replace the U.S. Dollar in International Trade, or anywhere else, and any Country that tries should say hello to Tariffs, and goodbye to America!" Trump stressed.
BRICS members have discussed shifting from the dollar in recent years, with discussions intensifying after the US imposed sanctions on Russia in 2022 following the start of its “special military operation” in Ukraine.
