Trump: The idea of undermining US Dollar is dead now

US President Donald Trump said that the BRICS group’s efforts to undermine the dollar will result in imposing tariffs and that the idea of ​​undermining the US currency is dead now.

The US president indicated that he will impose tariffs on the auto sector around April 2.

The BRICS countries, which include Brazil, Russia, India, China, South Africa and others, are in discussions about creating their own currency.

On Thursday, Trump said that the BRICS countries could face 100% tariffs on all imports into the United States if they go ahead with launching a common currency.

In response to a question about the BRICS countries launching their own currency, he said: If they do, there will be tariffs of at least 100%.

The warning comes amid Trump’s concerns about any move to undermine the US dollar’s dominance in global trade.

This comes after Trump announced his plan to increase tariffs to match the taxes imposed by other countries on their imports, but it will not take effect immediately, in order to give countries time to negotiate trade terms.