The Kremlin on Friday noted a repeat threat by U.S. President Donald Trump to impose tariffs on the BRICS grouping of countries if it created its own currency, but said there were no such plans.

Congress MP Shashi Tharoor said that US President Donald Trump’s threats to impose tariffs on BRICS nations “seem empty” as there is no plan to introduce an alternative currency to the US dollar. He said that there is no serious proposal for the BRICS to come up with an

President Donald Trump on Thursday warned off BRICS member countries from replacing the U.S. dollar as a reserve currency by repeating a 100%-tariffs threat he had made weeks after winning the November presidential elections.

U.S. President Donald Trump has threatened 100-percent tariffs on BRICS countries over their efforts to create a new currency and move away from the U.S. dollar.

US President Donald Trump has reiterated his threat to place 100% tariffs on BRICS nations, as the deadline loomed for him to impose tariffs on Canada and Mexico.

President Donald Trump said on Thursday that there is no chance for BRICS countries to replace the US dollar.

United States President Donald Trump on Friday reiterated his threat to impose 100% import tariffs on BRICS countries if they moved towards reducing reliance on the US dollar in global trade, reported The Indian Express. In a post on Truth Social, Trump said the US “will not stand idly by” while BRICS countries develop an alternative currency.

Russia warned that U.S. efforts to enforce dollar use could backfire. The BRICS nations, while discussing a common currency, are unlikely to replace the dollar, as Trump threatens 100% tariffs on countries attempting to do so amid U.