The US president-elect Donald Trump threatened the BRICS countries with huge tariffs if they don't abandon their plans to create an alternative currency to the dollar.
„We demand a commitment from these countries not to create a new currency or support another currency to replace the mighty US dollar, or they will face 100% tariffs,” he told Truth Social.
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In addition to the tariffs, trade with the United States will also be restricted for those countries, Trump added.
Vladimir Putin said in early November that it is too early to talk about creating a single BRICS currency and there is no such goal. He explained that this step requires greater integration of the member countries' economies and their structural similarity.
BRICS is an interstate association established in 2006. from Russia, China, India and South Africa, which joined it in 2011.
From the beginning of 2024. BRICS was joined by Egypt, Ethiopia, Iran, UAE and Saudi Arabia.