-- In a bold move, President-elect Donald Trump has issued a warning of imposing 100% tariffs on a coalition of nine nations if they attempt to undermine the U.S. dollar. The targeted countries include the members of the BRIC alliance: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, and the United Arab Emirates.

Trump's threat is a response to growing frustrations among these nations over America's dominance in the global financial system. Presently, the U.S. dollar accounts for approximately 58% of the world's foreign exchange reserves, as reported by the International Monetary Fund (IMF), and remains the primary currency for trading major commodities like oil. Nonetheless, the BRIC alliance is seeking to reduce reliance on the dollar through a process known as de-dollarization, as they aim to trade in non-dollar currencies.

In a post on Truth Social, Trump declared, "We require a commitment from these Countries that they will neither create a new BRIC currency, nor back any other currency to replace the mighty U.S. Dollar or, they will face 100% tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy."

This comes on the heels of Russian President Vladimir Putin's remarks at a BRIC summit in October, where he accused the U.S. of "weaponizing" the dollar and called it a "big mistake." Putin stated, "It's not us who refuse to use the dollar, but if they don't let us work, what can we do? We are forced to search for alternatives." Russia has advocated for creating a new payment system to bypass the global bank messaging network, SWIFT, allowing it to evade Western sanctions and maintain trade with partners.

Despite these initiatives, Trump remains confident that the BRIC nations will not succeed in dethroning the U.S. dollar from its position as the primary global reserve currency. He made it clear that any nation attempting to replace the dollar would "wave goodbye to America."

Analysts believe the U.S. dollar's dominance is secure for the near future. According to an Atlantic Council model, the dollar’s role as the primary global reserve currency remains "secure in the near and medium term."

Trump's latest threat follows previous tariff warnings against Mexico, Canada, and China, aimed at curbing illegal immigration and drug trafficking. Mexican President Claudia Sheinbaum expressed optimism in avoiding a tariff war following a call with Trump, while Canadian Prime Minister Justin Trudeau returned home without assurances that the tariffs would be lifted.