The BRICS nations, comprising Brazil, Russia, India, China, South Africa, and newer members like Egypt, Ethiopia, Iran, and the UAE, have refused to back down on their plans to introduce an alternative currency for international trade, despite strong opposition from US President Donald Trump.

Trump's latest warning comes as BRICS remains resolute in its efforts to reduce reliance on the US dollar as the dominant currency for global transactions. The bloc has been actively working towards de-dollarization, seeking to establish a more centralized trade system that is less dependent on the dollar.

In a recent statement, Trump reaffirmed his threat to impose 100% tariffs on BRICS countries if they attempt to bypass or replace the US dollar in international trade. He firmly stated that the US would not permit BRICS countries to introduce a new currency or endorse any alternative for global transactions.

Posting on Truth Social, Trump warned that any nation moving away from the dollar would have to "wave goodbye to America" and its market. He demanded that BRICS nations issue a formal commitment to halt their efforts to bypass the US dollar in international trade.

The Kremlin has responded to Trump's threat, warning that any US attempt to force countries to use the dollar would have unintended consequences. Kremlin spokesperson, Dmitry Peskov stated that the dollar's appeal as a global reserve currency was diminishing, with more countries seeking alternatives.

Peskov cautioned that if Washington resorted to "economic force" to enforce dollar dependency, it would ultimately backfire. "If the U.S. uses force, as they say economic force, to compel countries to use the dollar it will further strengthen the trend of switching to national currencies (in international trade)," said Peskov.

Since its inception, the BRICS group has advocated for greater economic independence from the US. The bloc has actively explored alternatives to the US dollar in international trade, particularly following the heavy sanctions imposed on Russia by the US in 2022.

As of now, however, BRICS has not issued any formal statement or commitment to halt its plans to reduce reliance on the dollar as the dominant global trade currency. This move is seen as a significant challenge to the US's economic dominance and could have far-reaching implications for global trade and commerce.

The implications of BRICS' de-dollarization plans are significant, with the potential to reshape the global economic landscape. As the US dollar's dominance is challenged, it could lead to a shift in the balance of power in international trade and commerce.

In conclusion, the BRICS nations' refusal to back down on their de-dollarization plans marks a significant development in the global economy. Despite Trump's threats, the bloc remains committed to reducing its reliance on the US dollar, paving the way for a more decentralized and diversified global trade system.