US President Donald Trump has issued a warning of imposing a 10% tariff on BRICS nations and any countries aligned with the bloc, accusing them of anti-American policies. Speaking during a cabinet meeting, Trump emphasized that the tariffs would be implemented ‘pretty soon,’ warning that BRICS members are attempting to undermine the US dollar’s status as the global standard, which he likens to a ‘major world war.’
The BRICS group, originally founded by Brazil, Russia, India, and China, has expanded to include South Africa, Egypt, and Indonesia, with its combined GDP surpassing that of the G7 when measured by purchasing power parity. Trump’s comments come amid tensions with BRICS leaders, who have rejected allegations of undermining the dollar, calling Washington’s actions a ‘big mistake’ that is driving countries to seek alternatives.
Putin has criticized Washington’s ‘weaponization’ of US currency through sanctions and financial restrictions, calling it a ‘big mistake’ that is pushing countries to seek alternatives. The group now represents nearly half the world’s population and about 40% of global GDP, a significant economic bloc that the US is now targeting with potential tariffs.