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President-elect Donald Trump has delivered a strong warning to the BRICS coalition regarding its efforts to undermine the U.S. dollar’s role as the global reserve currency. The coalition, now expanded to nine nations, consists of Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates.
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Trump stated on his Truth Social platform that any country seeking to abandon the U.S. dollar in favor of a new BRICS currency would face severe economic consequences. Specifically, he pledged to impose 100% tariffs on goods from such nations, signaling that the United States would not tolerate efforts to undermine its economic dominance.
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Donald Trump conveyed his strong stance regarding the BRICS nations’ reported efforts to reduce reliance on the U.S. dollar, stating that such actions would no longer be tolerated. A demand was issued for these nations to commit to refraining from creating or endorsing alternative currencies aimed at challenging the dollar’s dominance. It was warned that failure to comply would lead to their exclusion from the U.S. economy, with emphasis placed on the unparalleled strength of American markets and trade influence.
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This is not Trump’s first tariff-related initiative. Last month, he announced plans to impose a 25% tariff on all goods imported from Mexico and Canada, citing concerns about illegal immigration and drug trafficking across U.S. borders. These tariffs, he stated, would remain in place until those nations took significant steps to curb the flow of illegal drugs, particularly fentanyl, and unauthorized migration.
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Trump has been vocal about border security since his first administration, criticizing Mexico and Canada for not doing enough to address these issues. He expressed frustration over what he described as unprecedented levels of illegal border crossings and caravans entering the U.S.
In response, Canadian officials, including Deputy Prime Minister Chrystia Freeland and Public Safety Minister Dominic LeBlanc, highlighted the strong trade and security relationship between the two nations. They emphasized Canada’s significant contributions to U.S. economic and energy needs and detailed collaborative efforts to combat drug trafficking, including enhanced inspections and advanced technologies at border crossings.
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While Trump’s policies on tariffs and economic protectionism have been divisive, they remain central to his broader agenda of prioritizing American sovereignty and economic strength. With his upcoming inauguration in January 2025, these initiatives signal a return to aggressive trade and foreign policy strategies aimed at reinforcing U.S. dominance on the global stage.