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.

Experts believe Trump would struggle to replace tax revenue with income from tariffs, as the president has recently suggested.

Economists predict that the Trump administration’s trade policies could push up prices for consumers, making it harder for Fed officials to cut rates.

Upon returning to office, U.S. President Donald Trump has launched numerous tariff threats. They range from broad ones - a universal tariff on foreign-imported goods - to ones aimed at specific sectors,

Federal Reserve officials are expected to leave interest rates steady this week, giving themselves more time to lower inflation and to assess how President Donald Trump’s policies will affect the economy.