U.S. President Donald Trump is once again urging BRICS nations to abandon attempts to create their own currency or support any alternative to the dollar.
On his social media platform Truth Social, he threatened members of the coalition with tariffs and the closure of the American market.
Any country that tries to do this should say "hello" to tariffs and "goodbye" to America.
According to Trump, there is no need to attempt to replace the U.S. currency; otherwise, these "likely hostile" nations will face 100% tariffs. Additionally, the U.S. president warned BRICS countries that they could be shut out from the American market.
In November 2024, Trump had already stated that he might limit BRICS nations' trading capabilities with the U.S. In his speech, he mentioned the "mighty dollar" and urged the coalition not to abandon the American currency.
BRICS includes Brazil, India, China, South Africa, Russia, as well as new members—Iran, UAE, Egypt, and Ethiopia. Several other countries, including Turkey, have expressed interest in joining the bloc.
Putin's spokesperson Dmitry Peskov has already stated that there has been no discussion, nor is there any ongoing discussion, about creating a common currency within BRICS. However, this issue was discussed at the BRICS summit in Johannesburg in 2023.