OPINION: This article may contain commentary which reflects the author's opinion.
President-elect Donald Trumnp has issued a dire warning to members of the BRICS coalition which seeks to replace the United States Dollar as the world’s reserve currency.
BRICS is currently composed of nine nations but drew its name from the original five: Brazil, Russia, India, China and South Africa.
The other four nations are Iran, Egypt, Ethiopia, and the United Arab Emirates.
Trump said on Saturday on his Truth Social account that any nation that attempts to abandon the dollar would face 100 percent tariffs.
“The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER. 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 U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy. They can go find another “sucker!” There is no chance that the BRICS will replace the U.S. Dollar in International Trade, and any Country that tries should wave goodbye to America,” he said.
It is not the first time that the president-elect has threatened to use tariffs.
He said last month that he would sign an executive order upon assuming office to impose a 25% tariff on all goods imported from Mexico and Canada. He also pledged to implement further tariff increases on China, citing concerns over the influx of illegal immigrants and the trafficking of illicit drugs.
In a Truth Social post, Trump, who takes office on Jan. 20, 2025, noted that thousands of people were “pouring through” Mexico and Canada “at levels never seen before.”
“Right now a Caravan coming from Mexico, composed of thousands of people, seems to be unstoppable in its quest to come through our currently Open Border,” he wrote. “On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders.”
“This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!” he added. “Both Mexico and Canada have the absolute right and power to easily solve this long simmering problem.”
“And until such time that they do, it is time for them to pay a very big price!” he added.
Since his first administration, Trump has consistently urged Mexico to take more active measures to prevent the flow of illegal immigrants and drugs into the United States.
In a joint statement, Canada’s Deputy Prime Minister, Chrystia Freeland, and Public Safety Minister Dominic LeBlanc said America’s northern neighbor and the U.S. have “one of the strongest and closest relationships–particularly when it comes to trade and border security.”
“Canada places the highest priority on border security and the integrity of our shared border. Our relationship today is balanced and mutually beneficial, particularly for American workers,” they said. “Today, Canada buys more from the United States than China, Japan, France, and the UK combined. Canada is essential to US domestic energy supply, and last year 60 percent of US crude oil imports originated in Canada.”
“Law enforcement agencies from our respective countries—the RCMP, the Canada Border Services Agency (CBSA), the US Drug Enforcement Administrations, and US Customs and Border Protection—work together every single day to disrupt the scourge of the fentanyl coming from China and other countries,” they noted further.
“In addition, the CBSA is continuously strengthening its ability to detect opioids through enhanced inspections at ports of entry, detector dogs, and emerging technologies, preventing opioids from entering and leaving Canada,” they said.
