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Trump repeats tariffs threat to dissuade BRICS nations from replacing US dollar

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President Donald Trump on Thursday warned off BRICS member countries from replacing the U.S. dollar as a reserve currency by repeating a 100%-tariffs threat he had made weeks after winning the November presidential elections.

“We are going to require a commitment from these seemingly hostile Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs,” Trump said on Truth Social in a statement nearly identical to one he posted on Nov. 30, Reuters reported.

At the time, Russia said that any U.S. attempt to compel countries to use the dollar would backfire.

The BRICS grouping includes Brazil, Russia, India, China, and South Africa and a few other countries that joined in the past couple of year. The grouping does not have a common currency, but long-running discussions on the subject have gained some momentum after the West imposed sanctions on Russia over the war in Ukraine.

“There is no chance that BRICS will replace the U.S. Dollar in International Trade, or anywhere else, and any Country that tries should say hello to Tariffs, and goodbye to America!,” he said.

Trump posted his warning to the BRICS as Canada and Mexico await for his decision to follow through on a pledge to impose 25% tariffs on the United States’ North American trading partner from Feb. 1.

Trump wants to use tariffs as a tool to get Mexico and Canada to help stem the flow of illegal drugs into the United States, particularly the deadly opioid fentanyl, and also migrants crossing illegally into the U.S.

Dollar dominance — the outsized role of the U.S. dollar in the world economy — has strengthened of late, thanks to the robust U.S. economy, tighter monetary policy and heightened geopolitical risks, even as economic fragmentation has boosted a push by BRICS countries to shift away from the dollar into other currencies.

A study by the Atlantic Council’s GeoEconomics Center last year showed that the U.S. dollar remains the world’s primary reserve currency, and neither the euro nor the so-called BRICS countries have been able to reduce global reliance on the dollar.

The acronym BRIC, which did not initially include South Africa, was coined in 2001 by then Goldman Sachs chief economist Jim O’Neill in a research paper that underlined the growth potential of Brazil, Russia, India and China.

The bloc was founded as an informal club in 2009 to provide a platform for its members to challenge a world order dominated by the United States and its Western allies. South Africa was the first beneficiary of an expansion of the bloc in 2010 when the grouping became known as BRICS.

The group added Egypt, Ethiopia, Iran and the United Arab Emirates in 2023, and Indonesia became member earlier this month.

World

Trump says United States will get uranium from Iran

One of ​Trump’s central objectives in launching ‌military ⁠strikes against Iran was to ensure Tehran does not develop a ​nuclear weapon.

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President Donald Trump said on ​Wednesday the United States ‌would get enriched uranium from Iran, as the ​two countries struggle ​to reach an agreement on ⁠ending the Gulf ​war, Reuters reported.

“We’re going to get ​it,” Trump told a reporter as he left a White ​House event.

One of ​Trump’s central objectives in launching ‌military ⁠strikes against Iran was to ensure Tehran does not develop a ​nuclear weapon. ​Iran ⁠has yet to hand over ​more than 900 pounds (408 ​kg) ⁠of highly enriched uranium.

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Trump says Iran “should wave the white flag of surrender”

When asked ⁠what Iran would need to do to violate the ceasefire, Trump ​said: “Well, you’ll find out, because ​I’ll ⁠let you know … They know what not to do.”

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President Donald Trump on Tuesday dismissed ​Iran’s military capability and said Tehran “should wave ‌the white flag of surrender” but is too proud to do so, Reuters reported.

Trump told reporters in ​the Oval Office that Iran’s military ​has been reduced to firing “peashooters” and ⁠that Tehran privately wants to make a ​deal despite its public sabre-rattling.

“They play games, ​but let me just tell you, they want to make a deal. And who wouldn’t, when your ​military is totally gone?” he said.

Trump heaped praise on the U.S. blockade of Iranian ‌ports ⁠in the region. “It’s like a piece of steel. Nobody’s going to challenge the blockade. And I think it’s working out very ​well,” he ​said, read the report.

When asked ⁠what Iran would need to do to violate the ceasefire, Trump ​said: “Well, you’ll find out, because ​I’ll ⁠let you know … They know what not to do.”

Trump said Iran “should save the white ⁠flag ​of surrender.”

“If this were ​a fight, they’d stop it,” said Trump.

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Secret Service says it exchanged gunfire with armed suspect near White House

The suspect was not on the White House property, Quinn said.

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The ‌U.S. Secret Service said on Monday its officers confronted an armed and “suspicious individual” near the White House who later fired at them before fleeing on foot and being shot by law enforcement, Reuters reported.

The incident led to a ​brief lockdown at the White House.

Agents patrolling the outer perimeter of the White House ​complex identified a person who Secret Service Deputy Director Matthew Quinn said ⁠was a “suspicious individual that appeared to have a firearm.”

He briefly fled on foot after being ​approached by Secret Service officers and fired in their direction, Quinn said at a press ​conference.

Secret Service then fired at the suspect who was hit and subsequently hospitalized, Quinn added.

Vice President JD Vance’s motorcade transited through the area “not long before” the incident, Quinn said. There was no indication that the ​suspect intended to approach Vance’s motorcade, the Secret Service deputy director said.

A juvenile bystander was ​hit by the suspect but did not receive any life-threatening injuries and was being treated at a hospital, ‌Quinn ⁠added.

Agents observed “visual print of a firearm” in considering the individual’s behavior as suspicious when he was spotted, Quinn told reporters.

The suspect was not on the White House property, Quinn said.

Law enforcement have been on alert in recent days in the U.S. capital following a shooting at the ​White House Correspondents’ Association ​Dinner late last month ⁠over which a man has been arrested, read the report.

Quinn was asked if Monday’s incident was linked to “other recent attempts” on President Donald Trump’s life. Trump was ​in the White House when this incident unfolded.

“Whether or not it ​was directed ⁠to the president or not, I don’t know but we will find out,” Quinn said.

The Secret Service deputy director confirmed that a weapon was recovered from the suspect but did not elaborate.

The ⁠Secret Service said ​earlier its personnel were on the scene of the ​officer-involved shooting at 15th Street and Independence Avenue in Washington, D.C.

The DC Police Department was handling the probe.

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