Trump Signals 10% Tariff on BRICS Nations, Citing Threat to U.S. Dollar

Washington– U.S. President Donald Trump reiterated his warning to impose a 10% tariff on goods from BRICS countries, accusing the bloc of undermining the U.S. dollar. Speaking at a Cabinet meeting, Trump emphasized that the BRICS alliance, which includes Brazil, Russia, India, China, South Africa, and newer members such as Iran and Indonesia, was formed to weaken American economic interests.

“They will certainly have to pay 10% if they are in BRICS because BRICS was set up to hurt us, to degenerate our dollar,” Trump stated, underscoring his commitment to maintaining the dollar’s global dominance. He described the dollar as “king” and vowed to ensure its continued strength.

The BRICS nations, representing 40% of global GDP and nearly half the world’s population, recently convened for their 17th summit in Rio de Janeiro on July 6-7. The bloc has expressed concerns over Trump’s tariff policies, arguing they violate World Trade Organization rules. Despite these objections, Trump’s administration is pushing for bilateral trade agreements, with new tariffs scheduled to take effect on August 1 for countries without such deals.

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When questioned about India, a key U.S. trade partner and BRICS member, Trump clarified that no exemptions would be granted. The proposed tariffs are part of a broader strategy to counter perceived threats to U.S. economic interests, as outlined in a recent White House statement describing BRICS as a challenge to American dominance.

Trump’s remarks follow a similar warning issued on Sunday, where he labeled BRICS policies as “anti-American” and signaled potential trade repercussions. Brazil’s President Luiz Inacio Lula da Silva, who hosted the recent BRICS summit, criticized the tariff threats, highlighting ongoing tensions between the U.S. and the bloc.