Donald Trump's Claim on BRICS and Tariff Threats
On Friday, former U.S. President Donald Trump stated that the BRICS alliance "broke up" after he threatened a 150% tariff on member countries for actions undermining the U.S. dollar.
BRICS is an intergovernmental organization comprising ten nations: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates.
According to Trump, BRICS nations were attempting to challenge the dominance of the U.S. dollar by creating an alternative currency. He claimed that upon taking office, he warned that any BRICS country advocating for the dollar’s destruction would face a 150% tariff on its goods. As a result, he asserted, the BRICS bloc "broke up."
Is BRICS Planning to Challenge the Dollar's Dominance?
In recent years, some BRICS member countries, particularly Russia and China, have explored alternatives to the U.S. dollar or the creation of a dedicated BRICS currency. This initiative is viewed as an effort to reduce reliance on the dollar as a primary medium of exchange and reserve currency.
According to EurAsia Daily, during the Kazan Summit, Russian President Vladimir Putin was presented with a symbolic "BRICS bill." However, Elvira Nabiullina, the head of Russia’s Central Bank, reportedly opposed the idea. India has not actively participated in this initiative so far.
References
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- HT News Desk. (2025, January 31). “Find another sucker”: Trump’s 100% tariff threat to BRICS members, including India. Hindustan Times. https://www.hindustantimes.com/world-news/us-news/replace-dollar-face-100-tariff-donald-trumps-threat-to-members-of-brics-which-includes-india-101738293018060.html
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- India Today. (2025, February 21). Trump claims BRICS 'broke up' after tariff threat: Haven't heard from them lately. India Today. https://www.indiatoday.in/world/story/trump-claims-brics-india-china-broke-up-threatened-150-tariffs-undermining-dollar-2683205-2025-02-21#?utm_source=Story_hp&utm_medium=Story&utm_campaign=home_Story
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