Trump's Stern Warning to BRICS: Retain US Dollar or Face Consequences

President-elect Donald Trump warned BRICS nations, including India and China, against creating an alternative to the US Dollar. During the 2023 summit, BRICS explored a new currency, although India opposes de-dollarization. Trump threatened tariffs on BRICS countries shifting away from the dollar.

In an assertive move on Saturday, President-elect Donald Trump issued a stern warning to BRICS nations about any attempt to replace the US Dollar as the global trade currency. He demanded a commitment from this nine-member group, which includes major players like India, Russia, China, and Brazil, against creating a BRICS-exclusive currency.

Trump's message, delivered through his platform Truth Social, emphasized the consequences of this move, threatening 100% tariffs against countries attempting to move away from the dollar. He accused BRICS of potentially compromising economic relations with the United States if they proceed with a new currency project.

This warning coincides with the 2023 BRICS summit where member states, led by Brazil, expressed interest in exploring a common currency. However, India opposes any 'de-dollarization,' with its External Affairs Minister dismissing any targeted economic policy against the dollar. The debate reflects ongoing global currency tensions.

(With inputs from agencies.)