President-elect Donald Trump has issued a stern warning to the BRICS group nations, threatening to impose a 100 percent tariff on their exports to the United States if they undermine the dominance of the US dollar in global trade.

In a post on his Truth Social platform on Monday, Trump emphasized the importance of maintaining the supremacy of the US dollar in international transactions, stating that the BRICS nations, which include Brazil, Russia, India, China, South Africa, and several others, must refrain from creating a new currency or supporting any alternative currency to replace the US dollar. “We require a commitment 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 percent Tariffs,” Trump declared.

The BRICS bloc, which has expanded since its inception in 2009, now also includes Iran, Egypt, and the United Arab Emirates. Together, these countries represent a significant portion of the global economic output. However, recent discussions within the group have focused on reducing reliance on the US dollar, with the Kazan summit in October seeing a declaration encouraging cross-border payments in local currencies.

Despite these efforts, Russian President Vladimir Putin clarified at the summit that no significant progress had been made on creating an alternative to the SWIFT financial messaging system or developing a unified BRICS currency. “As for SWIFT and any alternatives, we have not created and are not creating any alternatives,” Putin stated. “We are not considering the question of a unified BRICS currency at the moment.”

Trump, known for his protectionist policies, warned that any attempt by BRICS nations to replace the US dollar would lead to severe economic consequences. “If BRICS countries continue with their plans, they should expect to say goodbye to selling into the wonderful US economy,” he wrote. “There is no chance that the BRICS will replace the US Dollar in international trade, and any country that tries should wave goodbye to America.”

The statement highlights Trump's ongoing stance against global economic practices he deems unfavorable to the US, reaffirming his commitment to pursuing tariffs and other protectionist measures to safeguard American interests.