'If you support other currencies instead of the dollar...' Trump issues stern warning to countries including India

WASHINGTON: Former US President and President-elect Donald Trump has issued a stern warning to BRICS countries, including India, about the consequences of moving away from the US dollar in international transactions. In a statement shared on the social media platform Truth Social, Trump threatened to impose a 100% tax on nations supporting alternative currencies or creating new ones for global trade.

The BRICS group, comprising Brazil, Russia, India, China and South Africa, recently expanded to include countries like Egypt, Iran and the UAE. At the BRICS summit held in October, discussions centered on promoting non-dollar transactions and strengthening local currencies in international trade.

Responding to these developments, Trump declared, “The time for waiting is over. If BRICS countries support another currency or create a new one to replace the US dollar, they will face 100% taxation and lose access to the US economy. It is impossible for the BRICS nations to replace the US dollar in global trade. Any attempts to do so will result in saying goodbye to trading with the United States.”