The incoming US President Donald Trump is threatening to introduce penalty tariffs of 100 percent on the BRICS countries if they do not continue to use the US dollar.
Trump wants the countries to ensure that they do not introduce a new common currency or support any other currency that replaces the dollar, he writes on his social media platform, Truth Social.
BRICS, which was formed by Brazil, Russia, India, and China, was expanded in 2010 to include South Africa. In January this year, Ethiopia, Iran, Egypt, and the United Arab Emirates also joined the association.
Earlier in the week, Trump threatened to introduce tariffs of 25 percent on goods from neighboring countries Mexico and Canada. He also said that an additional fee would be introduced on all goods from China.
