Criticizing BRICS for destroying the USD, Mr. Trump threatens to impose 150% tax, mentions risk to the Yuan

On February 20, in a speech at the Republican Governors Association in Washington, US President Donald Trump strongly warned of imposing a 150% tax on imported goods from the world's leading emerging economies (BRICS).

The US threatens to impose a 150% tariff on imports from the BRICS group. (Source: Economy Middleeast)

Mr. Donald Trump harshly criticized the intention of the BRICS countries to destroy the USD and try to establish a new currency, especially emphasizing the risk that these countries could switch to using the Chinese Yuan.

"As soon as I took office, the first thing I said was any BRICS country that even mentioned destroying the dollar would be taxed at 150%. We don't need your goods," the US President said.

Previously, Mr. Trump announced to apply a 100% tax on imports from BRICS countries if they establish their own currencies or abandon the greenback.

"Any country that tries to replace the US dollar in international trade will have to say goodbye to America," he asserted.

The group currently does not have a common currency but has held many discussions on the topic after Russia was hit with Western sanctions over the conflict in Ukraine.

Meanwhile, in January 2025, Brazilian Deputy Foreign Minister Eduardo Saboia said that BRICS has no plans to replace the USD, but wants to promote the use of currencies of countries in the group.

Source: https://baoquocte.vn/chi-trich-brics-pha-huy-dong-usd-ong-trump-doa-ap-thue-150-nhac-den-nguy-co-voi-nhan-dan-te-305100.html