Two weeks after Nigeria became a partner country of BRICS, US President Donald Trump reiterated his threat to impose 100% tariffs on the exports of BRICS nations if they attempt to replace the US dollar as the dominant currency in global trade.
In a statement on his Truth Social platform, Trump emphasised that BRICS countries must uphold the US dollar’s central role in international commerce or face severe economic consequences.
“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 US Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful US Economy,” Trump declared.
He further stated, “They can go find another sucker Nation. There is no chance that BRICS will replace the US Dollar in International Trade, or anywhere else, and any Country that tries should say hello to Tariffs, and goodbye to America!”

On January 17, 2025, Brazil confirmed Nigeria’s admission as the 9th partner country of BRICS, joining nations like Belarus, Bolivia, Cuba, and others. The Nigerian Ministry of Foreign Affairs affirmed the partnership as a step toward inclusive growth, regional integration, and fostering a more equitable global economic framework.
The statement from the Nigerian government reads: “The Federal Government of Nigeria has accepted the invitation to join BRICS as a partner country. The formal acceptance to participate as a partner country underscores Nigeria’s commitment to fostering international collaboration, leveraging economic opportunities, and advancing strategic partnerships that align with Nigeria’s development objectives.”
The BRICS group, comprising Brazil, Russia, India, China, and South Africa, has been exploring ways to reduce its reliance on the US dollar in trade for years. Economic collaboration among BRICS countries has intensified, especially since the imposition of Western sanctions on Russia due to its invasion of Ukraine. Recently, BRICS has expanded to include countries like Egypt, Indonesia, and the UAE.
Despite not having a common currency, BRICS nations have advocated for trade in local currencies, aiming for a gradual de-dollarisation. This was a central theme at the 15th BRICS Summit in 2023, where Russian President Vladimir Putin pushed for expanding national currency settlements and enhancing cooperation between BRICS banks.
At the June 2024 BRICS foreign ministers’ meeting, the use of local currencies for both bilateral and multilateral trade gained further traction. However, despite these efforts, the US dollar remains the world’s dominant reserve currency, and a 2023 study by the Atlantic Council’s GeoEconomics Center revealed that neither the euro nor BRICS+ nations have succeeded in reducing global reliance on the dollar.
Trump’s remarks on tariffs are consistent with his previous economic strategies, including his earlier threats against Mexico, Canada, and other trade partners. His rhetoric around imposing tariffs on BRICS+ members stems from his broader economic policy agenda, which includes using tariffs as leverage to reduce illegal immigration and drug trafficking, particularly fentanyl, into the US.
During his campaign, Trump accused India of being a “very big abuser” of trade policies, and now, he has extended this criticism to other BRICS+ countries. By increasing tariffs on nations he deems to be taking advantage of US trade policies, Trump plans to lower taxes for American businesses and workers, in hopes of bringing factories and jobs back to the US.