U.S. President Donald Trump doubled down on his threat to impose a 10% tariff on imports from BRICS nations, warning that the group would “end very quickly” if it solidifies into a significant alliance. Speaking on Friday, Trump accused the BRICS bloc—comprising Brazil, Russia, India, China, South Africa, and newer members like Iran and Indonesia—of pursuing “anti-American policies” that challenge U.S. economic dominance, particularly the dollar’s role as the global reserve currency.
Trump first announced the tariff threat on July 6, stating it would apply to any country aligning with BRICS’ alleged anti-American agenda. “We can never let anyone play games with us,” he reiterated, vowing to block any attempts to undermine the U.S. dollar or introduce a central bank digital currency in America. He claimed, without evidence, that BRICS was established to weaken the U.S. economy, a charge the group’s leaders have firmly denied.
At a recent summit in Rio de Janeiro, BRICS leaders criticized unilateral tariffs as disruptive to global trade, indirectly targeting Trump’s policies. While Brazil shelved plans for a common BRICS currency, the bloc is advancing BRICS Pay, a cross-border payment system to boost trade in local currencies, raising concerns in Washington about reduced dollar reliance.
Also Read: Trump Hints at Imminent India-US Trade Deal Before August 1 Tariff Deadline
Trump also singled out Brazil, announcing a 50% tariff on its imports starting August 1 and launching an investigation into its “unfair” trade practices. The BRICS group, expanded in 2023 to include Egypt, Ethiopia, Iran, Indonesia, and the UAE, positions itself as a platform for multilateral diplomacy amid tensions with Western-led forums like the G7 and G20.
BRICS leaders, including Brazil’s President Luiz Inácio Lula da Silva, have rejected claims of anti-Americanism, with Lula stating, “We don’t want an emperor,” in response to Trump’s threats. South Africa and China have also emphasized that BRICS seeks cooperative development, not confrontation. As the August 1 tariff deadline looms, trade talks with countries like India and Indonesia continue, but Trump’s aggressive stance signals heightened global trade tensions.
Also Read: India Rebuffs NATO Chief’s Sanctions Threat Over Russia Ties