The Kremlin on Friday brushed off a repeat threat by U.S. President Donald Trump to impose tariffs on the BRICS grouping of countries if it created its own currency, saying there was and never had been such a plan.

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.

Press secretary of the President of Russia Dmitry Peskov confirmed that so far there is no talk of creating a common currency within the BRICS association. TASS informs about this today, January 31.

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.

By moving away from the US Dollar, BRICS are looking to circumvent economic pressures and protect their financial interests.

Hours after US Presiden Donald Trump warned BRICS nations including Brazil of tariffs if they go with a separate currency, Brazilian President Lula da Silva affirmed that if Washington does take any such action,

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.

While BRICS hasn’t yet done enough to turn the table, its stated action plans, particularly adopting a common currency within its fold and ultimately ditching the dollar, have announced themselves as potential game changers.

President Donald Trump took to social media on Thursday night to threaten 10 more countries with tariffs if they replace the U.S. dollar as their reserve currency. “The idea that the BRICS Countries are trying to move away from the Dollar,

President Donald Trump is putting BRICS nations on notice, threatening them with a full-blown trade war if they attempt to sideline the U.S. dollar in global commerce. In a fiery Truth Social post on Thursday night,

U.S. President has threatened the BRICS group of emerging economies with tariffs of 100 per cent if they move away from the U.S. dollar as an international means of payment. “The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER,” Donald Trump said on his social media platform Truth Social.