Trump issues warning to impose 10 percent duties on BRICS
(MENAFN)
US President Donald Trump has issued a warning that countries aligned with the BRICS economic bloc could soon face an additional 10% tariff. Trump has intensified his criticism of BRICS in recent weeks, accusing the group of adopting policies hostile to American interests.
US President Donald Trump has issued a warning that countries aligned with the BRICS economic bloc could soon face an additional 10% tariff. Trump has intensified his criticism of BRICS in recent weeks, accusing the group of adopting policies hostile to American interests.
When asked about the timeline for the new tariffs, Trump responded that they would be implemented “pretty soon.”
BRICS—originally formed by Brazil, Russia, India, and China in 2006—has since expanded to include South Africa, Egypt, Iran, Ethiopia, the United Arab Emirates, and Indonesia. At a recent summit held in Kazan, Russia, the bloc introduced a new “partner country” status to accommodate growing interest from over 30 nations.
During the BRICS summit in Brazil, Russian President Vladimir Putin highlighted that the bloc’s collective GDP, based on purchasing power parity, has now surpassed that of the G7. BRICS countries represent nearly half of the global population and around 40% of the world’s GDP.
Trump, however, downplayed BRICS’ strength, claiming the group had “largely broken up.” He accused it of trying to erode US financial power by challenging the dominance of the US dollar, warning that losing the dollar’s global status could lead to “a major world war” and fundamentally alter the United States.
In contrast, BRICS leaders have consistently stated that their goal is not to weaken the dollar but to counter its politicization. President Putin has condemned Washington’s use of the dollar as a political weapon through sanctions and financial restrictions, arguing that such tactics are prompting countries to seek alternative systems.
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