Trump threat of 100% tariffs against Brics nations raises trade war fears

President-elect threatens retaliation if emerging economies create new currency to rival US dollar

Fears of a global trade war have risen after Donald Trump threatened to impose 100% tariffs on countries in the Brics group if they create a new currency to rival the US dollar.

Writing on his social media platform, Truth Social, on Saturday, Trump declared that he would also act if they supported another currency to replace the dollar.