Donald Trump has issued a stark warning against countries exploring alternatives to the U.S. dollar in global financial systems, threatening 100% tariffs on those seeking to sidestep the currency’s dominance.
In a Saturday post, Trump declared, “Any country that tries should wave goodbye to America,” signaling a firm stance against initiatives that could undermine the dollar’s influence.
This latest threat appears tied to BRICS, a bloc of 10 nations led by China and Russia. The organization has been at the forefront of efforts to challenge Western financial dominance, with its latest innovation—BRICS Pay—emerging as a potential flashpoint.
BRICS Pay is a blockchain-based payment platform utilizing digital payments and QR code technology as an alternative to the SWIFT network, which underpins dollar-denominated transactions globally. Analysts suggest the move is seen as a direct challenge to the U.S.-centric financial order.
“The proximate cause of Trump’s threat is the development of BRICS Pay,” wrote Douglas Holtz-Eakin, president of the American Action Forum, in a note Monday morning.
Trump’s remarks have sparked concerns over the possibility of a wide-reaching trade war involving BRICS nations and their allies. The conflict, if it materializes, could span multiple continents and become a major focus of negotiations between Trump’s transition team and foreign leaders in the coming months.
Meanwhile, Moscow quickly hit back. A Kremlin spokesperson dismissed Trump’s warning, asserting that the dollar’s global dominance is already waning and predicting the tariff threat would ultimately harm U.S. interests.
This brewing standoff underscores the rising tension between traditional financial systems and emerging blockchain-based solutions, a conflict that could reshape global trade and monetary policy.
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