Overview

• President Donald Trump has threatened 100% tariffs on BRICS nations if they attempt to replace the U.S. dollar with another currency for international trade.
• Trump labeled the BRICS bloc 'dead,' claiming his previous warnings deterred members from advancing plans for a common currency.
• The BRICS group, which includes Brazil, Russia, India, China, and South Africa, has denied immediate plans for a shared currency but is exploring ways to reduce reliance on the dollar.
• Trump has recently imposed several tariffs, including a 10% increase on Chinese goods and a 25% tariff on steel and aluminum imports, as part of his broader trade agenda.
• Analysts suggest that BRICS nations are seeking alternatives to the dollar due to economic pressures, including U.S. sanctions and rising interest rates, but experts doubt the feasibility of replacing the dollar in global trade.