Russia responded to Trump’s threat to impose 100% tariffs on BRICS nations

RUSSIA – Over the weekend, President-Elect Donald Trump warned that BRICS countries would be hit with 100% tariffs and “should expect to say goodbye to selling into the wonderful US economy” if they do not provide a “commitment” on never creating BRICS currency.

In response to Trump’s warning, Kremlin spokesman Dmitry Peskov said that Trump’s demands would “backfire.” He added, “The dollar is beginning to lose its attractiveness as a reserve currency for a number of countries. This is a process of erosion of the dollar’s appeal; it is actually going on and gaining momentum.”

Trump’s previous statement: “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 US Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful US Economy. They can go find another “sucker!” There is no chance that the BRICS will replace the US Dollar in International Trade, and any Country that tries should wave goodbye to America.”

Last year, Brazilian President Lula called for BRICS countries to create an alternative to the dollar along with Russian President Vladimir Putin. At the time, President Lula said creating the currency would increase “our payment options and reduce our vulnerabilities.” Chinese President Xi Jinping also said China wanted to promote “the reform of the international financial and monetary system.”

BRICS is a coalition of five major economies: Brazil, Russia, India, China, and South Africa. The group aims to promote economic growth, political cooperation, and a more “balanced global order.” Other members include Egypt, Ethiopia, Iran, the UAE, Belarus, Bolivia, Cuba, Indonesia, Malaysia, Nigeria, Thailand, Turkey, and Vietnam.