U.S. President Donald Trump has renewed his threat to impose a 10% tariff on imports from BRICS countries, warning that if the group ever became “meaningful,” it would be dismantled swiftly.
“When I heard about this group from BRICS, six countries, basically, I hit them very, very hard. And if they ever really form in a meaningful way, it will end very quickly,” Trump said on Friday, without naming specific nations.
New Tariff Policy and Anti-CBDC Stance
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Trump first announced the 10% tariff on July 6, targeting nations aligning with what he called “anti-American policies” of BRICS.
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He also vowed to block the creation of a U.S. Central Bank Digital Currency (CBDC) and protect the dollar as the global reserve currency.
BRICS Responds
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BRICS leaders reject Trump’s claim that the group is anti-American.
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Although Brazil dropped plans for a common BRICS currency, the group is advancing a cross-border payment system called BRICS Pay, aimed at facilitating trade in local currencies.
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BRICS expanded recently to include Iran and Indonesia, with leaders criticizing U.S. trade and military policies at the last summit.
Trump Targets Brazil
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Trump has announced a 50% tariff on Brazilian imports starting in August.
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He also ordered an investigation into Brazil’s trade practices, calling them “unfair.”
