US threatens BRICS with 150% tariffs
(VOVWORLD) - US President Donald Trump has warned BRICS countries he would impose 150% tariffs for any attempt to create an alternative to the US dollar.
US President Donald Trump speaks at a press conference in Washington, DC. (Photo: VNA) |
When addressing the Republican Governors Association in Washington on Thursday, President Trump criticized the BRICS nations’ intention to establish their own currency in order to challenge the dollar, and also pointed out the possibility that BRICS countries may have wanted to use the Chinese yuan.
Trump reiterated that one of the first things he mentioned after his inauguration was any BRICS state that even mentions the destruction of the dollar would be charged a 150% tariff.
The BRICS countries have not issued any response to Trump’s latest statement.
Trump said earlier that he would impose 100% tariffs on imports from BRICS countries should they set up their own currency or give up the dollar. According to him, any country that tries to replace the dollar to conduct international trade will say "goodbye to America."
BRICS is an intergovernmental organization made up of 10 countries, including Brazil, Russia, India, China, Iran, and the United Arab Emirates.