'Any country that tries...': Donald Trump warns China, India, Russia on replacing the dollar

President-elect Donald Trump has issued a stark warning to the BRICS nations—Brazil, Russia, India, China, and South Africa—that any effort to sideline the US dollar in global trade will come at a steep cost. In a post on his Truth Social platform, Trump declared, “The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER.”

Trump’s message was clear: abandon plans to create an alternative currency or risk severe economic retaliation. “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,” he warned.

This ultimatum comes as Trump prepares to return to the White House in January, reigniting concerns over his tough-on-trade policies. On the campaign trail, Trump repeatedly vowed to defend the dollar’s global dominance and impose punitive tariffs on nations attempting to de-dollarize. His latest remarks highlight a renewed focus on economic nationalism as a cornerstone of his upcoming administration.

The BRICS nations, which have grown increasingly vocal about reducing their reliance on the dollar, discussed de-dollarization at their 2023 summit in Johannesburg. The movement gained traction following US-led sanctions on Russia in 2022, which underscored the risks of dollar dependence in geopolitically charged situations.

Behind the scenes, Trump’s economic team has been strategizing on how to counter these efforts, exploring measures like export controls and trade penalties. Sources close to the discussions revealed that Trump is considering sweeping actions to ensure the dollar remains the world’s reserve currency.

In a March interview, Trump stressed the importance of protecting the dollar, stating, “I would not allow countries to go off the dollar because it would be a hit to our country.” On Saturday, he reiterated, “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.”