As the deadline looms, President Donald Trump reiterates his threat of 100% tariffs on BRICS nations, and a trade war is back on.
On Thursday, Trump said he’s ready to put 100% tariffs on all BRICS countries – Brazil, Russia, India, China and South Africa – if they go after an alternative to the US dollar.
On his Truth Social platform, Trump blasted the BRICS nations for moving away from the dollar, and said he won’t let it happen on his watch.
“The idea the BRICS Countries are trying to get away from the Dollar, and we just stand by and watch, is OVER,” he wrote.
He said unless they abandon any plans for a BRICS currency or support another currency to replace the US dollar, they’ll face big economic consequences.
This is in addition to Trump’s 25% tariffs on Canada and Mexico which go into effect on February 1.
He had set the deadline shortly after he took office and said the tariffs would be imposed unless both countries took stronger action against illegal migration and fentanyl coming into the US.
China, a BRICS member, has another Trump economic threat. He accused China of being part of the US fentanyl crisis and said its exports could face an extra 10% tax starting February 1.
As trade wars heat up, Trump’s words mean war. BRICS and neighbors are just the beginning.
Tariffs are his weapon of choice.