Why is Trump threatening a 100% tariff on the BRICS nations?
CBSN
President-elect Donald Trump on Nov. 30 threatened to slap a 100% tariff on a group of nine nations — the so-called BRICS — if they try to replace the U.S. dollar with another currency.
The BRICS countries include Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates. Trump said he'll enact the tariffs if the countries either move to create a new rival currency to the dollar or back an alternative currency to replace the greenback as the world's reserve medium of exchange.
"We require a commitment from these 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, and should expect to say goodbye to selling into the wonderful U.S. Economy," Trump said on Truth Social.
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