US President Donald Trump has warned BRICS nations with the imposition of 100% tariffs if they attempt to replace the US dollar as the global reserve currency. Additionally, he has threatened Canada and Mexico with tariffs, including a potential 25% tax on imports, as part of his broader economic and immigration policies.

On Thursday, US President Donald Trump issued a stern warning to BRICS member states, threatening them with 100% tariffs if they moved forward with plans to replace the US dollar as the global reserve currency. This remark echoed a similar threat he made after securing victory in the November 2024 elections. Trump emphasized on his Truth social media platform, “We are going to require a commitment from these seemingly hostile 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.” He further declared, “There is no chance that BRICS will replace the US dollar in international trade, or anywhere else, and any country that tries should say hello to tariffs, and goodbye to America!”

The BRICS group, initially comprising Brazil, Russia, India, China, and South Africa, has expanded in recent years to include Egypt, the United Arab Emirates, Ethiopia, Iran, and Indonesia, bringing the total membership to eleven countries. Established in 2009, the bloc was created as a counterbalance to the economic dominance of the US and its western allies. Representing nearly half of the world's population, BRICS is often seen as a counterpart to the G7 group of industrialized nations.

In recent years, the group has explored the possibility of establishing an alternative reserve currency, particularly following the imposition of Western sanctions on Russia due to its ongoing war in Ukraine. Despite these efforts, the US dollar has maintained its position as the dominant global reserve currency, with widespread international reliance on it.

In other related news, Trump also announced that, starting Saturday, a 25% tariff would be placed on imports from Canada and Mexico. However, he is still considering whether to include oil from these countries in the tariff regime. In comments made at the Oval Office on Thursday, Trump said, “We may or may not,” referring to the decision on oil. His final choice will depend on whether he believes the oil prices charged by Washington's two North American trade partners are fair. Trump’s decision is also influenced by his ongoing efforts to curb illegal immigration and the smuggling of chemicals used in the production of fentanyl and other synthetic opioids, which have contributed to tens of thousands of deaths across the United States.