Trump warns of imposing a 100% tariff on BRICS countries if they ditch the U.S. dollar

President-elect Donald Trump stated on Truth Social that he would impose a 100% tariff on the BRICS coalition of non-Western countries if they move away from trading using the U.S. dollar. The BRICS alliance consists of Brazil, Russia, India, China, and South Africa, with additional members like Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. Experts are skeptical about BRICS creating its own currency due to infighting and economic differences between member nations. The U.S. has significant trade relationships with BRICS members like China and India. Trump also threatened to raise tariffs on Mexico, Canada, and China to curb the fentanyl crisis. Canadian Prime Minister Trudeau met with Trump, promising to work together to address drug problems. Mexican President Sheinbaum emphasized the need for cooperation over threats regarding migration and drug consumption. A phone call between Sheinbaum and Trump led to conflicting reports on whether Mexico agreed to stop immigration into the U.S. Sheinbaum clarified that Mexico’s stance is to address the migration issue while upholding human rights and maintaining open borders.

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