President-elect Donald Trump threatened to impose a 100% tariff on several countries that have emerging markets if they try to move away from trading using the U.S. dollar.
“The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER,” Trump said in a post on social media. “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 U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy.”
“They can go find another ‘sucker!’” he added. “There is no chance that the BRICS will replace the U.S. Dollar in International Trade, and any Country that tries should wave goodbye to America.”
BRICS primarily consists of Brazil, Russia, India, China, and South Africa, but it expanded…
