President-elect Donald Trump took to Truth Social over the weekend and threatened to impose 100% tariffs on a group of emerging markets if they continued their de-dollarization campaign. The subject of BRICS, a nine-nation coalition headlined by Brazil, Russia, India, China, and South Africa, has become more prevalent under the current administration thanks to the bloc’s efforts to abandon the greenback. But are these concerns overblown? Many economists believe so.
Trump Tosses Tariff Bricks at BRICS
The incoming president has been one of the few major domestic leaders to discuss BRICS and the organization’s role in potentially shunning the US dollar. His latest pro-tariff, pro-dollar social media post vowed to implement a 100% levy on the countries looking to exit the US dollar.
Trump wrote in a Nov. 30 social media post:
“The idea that the BRICS…
