In a recent rally, former U.S. President Donald Trump made headlines for his remarks about the BRICS alliance and its push for de-dollarization. The coalition—comprising Brazil, Russia, India, China, and South Africa—has been making strides toward reducing reliance on the U.S. dollar in global trade, a development that has drawn sharp reactions from Washington.
Trump used the moment to reiterate his strong stance against the de-dollarization efforts led by BRICS nations, warning of severe economic repercussions for any country challenging the dollar’s dominance. “If they want to de-dollarize, they’ll face tariffs they’ve never seen before—100%, maybe more,” Trump declared.
The BRICS coalition has been at the forefront of initiatives to establish alternative payment systems and bolster intra-bloc trade using local currencies, posing a significant challenge to the U.S. dollar’s status as the world’s reserve currency. This shift has fueled geopolitical tensions, with Washington viewing the alliance’s moves as a direct threat to its economic influence.
Trump’s comments, however, have sparked criticism and mockery on social media, particularly for his apparent unfamiliarity with South Africa’s pivotal role in the group. Analysts suggest this slip reflects broader misconceptions about the BRICS bloc and its growing impact on global economic structures.
While the BRICS nations persist in advocating for a multipolar financial system, the rhetoric from U.S. leaders highlights the significant risks involved in the continuous struggle for economic dominance. The question remains whether the United States can effectively counter the BRICS agenda without alienating key emerging markets.
For BRICS members, Trump’s remarks may serve as further evidence of the West’s underestimation of the bloc’s ambitions and its increasing relevance in shaping the future of global trade.