Several nations have been moving towards abandoning the US dollar. BRICS nations are currently leading this global shift from dollar supremacy. These countries are trying to opt for alternate currencies instead of the dollar for international trade, foreign reserves, and other financial transactions. This group includes Brazil, Russia, India, China and South Africa along with several other countries. Amidst this, the US government spearheaded by Donald Trump was seen choosing other options to slow down de-dollarization.

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Can Trump Save The US Dollar?

brics us dollar de-dollarization
Source: iStock

It looks like 2025 could be the year of tariffs with Trump taking over the US government. The President once again took to Truth Social and threatened BRICS countries that are moving away from the dollar with 100% tariffs. He stated,

“The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER. 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, and should expect to say goodbye to selling into the wonderful U.S. Economy.“

He even suggested that these nations endorsing de-dollarization should “go find another s*cker nation.” Trump confidently stated that the chances of an alternate currency replacing the dollar in international trade were close to zero. Apart from BRICS nations, the President also suggested that any nation that tries to move away from the dollar will face tariffs.

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Canada & Mexico Could Be Under Fire Too

Source: Global Times

President Donald Trump prepares to impose his first round of tariffs on Saturday on the two largest purchasers of US commodities, Canada and Mexico. Trump has long been troubled by both countries’ trade surpluses with the US. He has promised to impose 25% tariffs on about $900 billion worth of products from them. The President pledged on Thursday to stick to his self-imposed deadline of February 1.

While China could be under fire for its de-dollarization motives, Trump previously announced tariffs of up to 60% on Chinese goods. According to analysts, the goal of the action is to both curb the illicit importation of fentanyl into the nation and further American interests in improved trade negotiations with Beijing.

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  • De-dollarization
  • Donald Trump
  • US DOLLAR