President-elect Donald Trump has issued a stern warning to BRICS nations, including India, China, and Russia, against attempts to sideline the US dollar in global trade. Following an October BRICS summit in Kazan that emphasized strengthening local currencies and reducing reliance on the dollar, Trump declared any such moves unacceptable and threatened 100% tariffs on nations supporting de-dollarisation.

In a recent online post, Trump criticized efforts by BRICS—which now includes Egypt, Iran, and the UAE—to explore alternatives to the dollar for cross-border payments. "The idea that BRICS is trying to move away from the Dollar is OVER," he wrote, warning that these countries should "wave goodbye to selling into the wonderful US Economy."

At the Kazan summit, BRICS leaders agreed to strengthen correspondent banking networks and enable local currency settlements, but Russian President Vladimir Putin clarified no robust alternative to the SWIFT messaging system had emerged.

India, too, has distanced itself from de-dollarisation. Foreign Minister S. Jaishankar reiterated that bypassing the dollar is not aligned with India's economic or strategic policies, though workarounds exist in specific trade scenarios.

Trump's remarks also revisited his grievances with global trade practices. A month before the elections, he criticized India as "the biggest tariff charger," even as he praised Prime Minister Narendra Modi and strong US-India relations. Trump’s 2025 tariff agenda emphasizes reciprocity, targeting what he calls protectionist regimes in India, China, and Brazil.

As Trump prepares to assume office, his stance on de-dollarisation and tariffs signals a potential escalation in global trade tensions, particularly with economies exploring alternatives to US monetary dominance. His warning to BRICS underscores his commitment to preserving the dollar’s supremacy in global commerce.

President-elect Donald Trump has issued a stern warning to BRICS nations, including India, China, and Russia, against attempts to sideline the US dollar in global trade. Following an October BRICS summit in Kazan that emphasized strengthening local currencies and reducing reliance on the dollar, Trump declared any such moves unacceptable and threatened 100% tariffs on nations supporting de-dollarisation.

In a recent online post, Trump criticized efforts by BRICS—which now includes Egypt, Iran, and the UAE—to explore alternatives to the dollar for cross-border payments. "The idea that BRICS is trying to move away from the Dollar is OVER," he wrote, warning that these countries should "wave goodbye to selling into the wonderful US Economy."

At the Kazan summit, BRICS leaders agreed to strengthen correspondent banking networks and enable local currency settlements, but Russian President Vladimir Putin clarified no robust alternative to the SWIFT messaging system had emerged.

India, too, has distanced itself from de-dollarisation. Foreign Minister S. Jaishankar reiterated that bypassing the dollar is not aligned with India's economic or strategic policies, though workarounds exist in specific trade scenarios.

Trump's remarks also revisited his grievances with global trade practices. A month before the elections, he criticized India as "the biggest tariff charger," even as he praised Prime Minister Narendra Modi and strong US-India relations. Trump’s 2025 tariff agenda emphasizes reciprocity, targeting what he calls protectionist regimes in India, China, and Brazil.

As Trump prepares to assume office, his stance on de-dollarisation and tariffs signals a potential escalation in global trade tensions, particularly with economies exploring alternatives to US monetary dominance. His warning to BRICS underscores his commitment to preserving the dollar’s supremacy in global commerce.