President Donald Trump once again warned of 100 per cent tariffs against BRICS nations if they attempt to replace the US dollar in international trade. BRICS is an intergovernmental organisation of ten countries—Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the UAE. “The idea that the BRICS countries are trying to move away from the dollar, while we stand by and watch, is over,” Trump said on Thursday.

Trump said he wanted a commitment from these “seemingly hostile” countries that they would neither create a new BRICS currency nor back any other currency to replace the “mighty” US dollar, or “face 100 per cent tariffs, and should expect to say goodbye to selling into the wonderful US economy.” “They can go find another sucker nation. 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!” he threatened.