Tariffs Won’t Save the US Dollar

By Vincent Cook – Mises Wire

In a November 30 Truth Social post, President-elect Trump threatened BRICS states—Brazil, Russia, India, China, South Africa, Iran, Ethiopia, Egypt, and the United Arab Emirates, plus more states in the process of joining—with 100 percent tariffs on their exports to America if they dared to attempt replacing the US dollar as an international trade currency:

The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER. 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 percent Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy. They can go find another “sucker!” There is no chance that the BRICS will replace the U.S. Dollar in International Trade, and any Country that tries should wave goodbye to America.