US President-elect Donald Trump has warned that he will impose 100% tariffs on nine nations if they attempt to create a currency to challenge the US dollar’s global dominance. In a social media post Saturday, Trump declared, “The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER.”

The BRICS bloc, which includes China, Russia, Brazil, India, South Africa, Iran, Egypt, Ethiopia, and the UAE, has been considering the creation of a new currency to reduce reliance on the US dollar in international trade. However, internal divisions have delayed any substantial progress on the plan.

Trump made it clear that these nations would face severe economic consequences if they moved forward, stating, “They will face 100% tariffs and should expect to say goodbye to selling into the wonderful US economy.” He added, “They can go find another sucker.”

Many of Trump’s allies see the tariff threats as part of a broader negotiation strategy rather than a firm policy stance. Republican Senator Ted Cruz underscored the significance of leverage, noting that similar tariff threats had successfully pressured other nations, such as Mexico and Canada, in the past.

In a related development, Canadian Prime Minister Justin Trudeau visited Trump’s Mar-a-Lago estate to address potential tariff hikes on Canadian goods. Trump’s nominee for Treasury Secretary, Scott Bessent, suggested the president-elect’s strategy could involve escalating threats to ultimately reach favorable deals. “It’s escalate to de-escalate,” he remarked.