‘Find another sucker’: Trump threatens 100% tariffs on countries that oppose the US dollar

President-elect Donald Trump’s tariff threats continued Saturday with a pledge to impose 100% tariffs on a bloc of nine countries if they diverge from the U.S. dollar in international trade.

The BRIC alliance — made up of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates — is seeking to reduce dependence on the dollar as countries grow weary of U.S. dominance over the global financial system . according to CNBC.

Although the alliance accounts for 35% of global GDP, according to Statista, the US dollar still remains the most widely used currency in global trade. This has led countries over the years to consider moving away from the dollar, a move known as dedollarization.

“We demand a commitment from these countries not to create a new BRICS currency nor to support another currency to replace the powerful US dollar,” Trump wrote on Truth Social. “Or they will face 100 percent tariffs and face having to say goodbye to selling to the wonderful U.S. economy.”

According to Asia Times, the BRIC bloc has been buying gold at an unprecedented pace, raising the possibility that they could attempt to introduce a new gold-based monetary system. Actual progress on dedollarization would be slow, and Trump said there was “no chance” the U.S. dollar would be replaced in international trade.

“Any country that tries should say goodbye to America,” he wrote.

His latest threat came days after he announced he would impose a 25% tariff on imports from Mexico and Canada and an additional 10% tariff on goods from China unless countries step up efforts to curb illegal immigration and to curb the flow of drugs into the USA

Mexican President Claudia Sheinbaum said after a conversation with Trump that she believes a tariff war can be averted.

Canadian Prime Minister Justin Trudeau convinced Trump that it was unfair to lump Canada with Mexico over the flow of drugs and migrants to the United States, The Associated Press reported.