Japan’s economy risks taking another hit if US President Donald Trump slaps fresh tariffs on China, sparking a renewed US-China trade war, according the government’s chief economist.

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.

WASHINGTON: US President Donald Trump reiterated Thursday his threat to place 100 percent tariffs on BRICS nations, as the deadline loomed for him to impose tariffs on Canada and Mexico. Trump had previously threatened 100 percent tariffs on BRICS nations - a bloc including Brazil,

US President Donald Trump has issued a stern warning to BRICS nations, stating that any effort to replace the US dollar as the global reserve currency will face severe repercussions. In a statement on Truth Social Thursday,

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.