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Trump Asserts BRICS 'Is No More' in Light of Tariff Threats
US President Donald Trump cautions BRICS countries about significant tariffs if they seek alternatives to the US dollar for their currencies.
US President Donald Trump has proclaimed the BRICS group—comprising Brazil, Russia, India, China, and South Africa—as 'dead,' citing his belief that it was formed for negative intentions. During a press conference on Thursday, Trump reaffirmed his warning of imposing a 100% tariff on BRICS countries if they attempt to supplant the US dollar with an alternative currency in international commerce.
Trump's comments specifically addressed the bloc's purported efforts to establish trading frameworks that deviate from the dollar’s supremacy.
‘The US will not engage in trade with BRICS nations if they wish to play games,’ Trump declared, indicating that any future trade interactions would face extremely high tariffs.
He added, 'Those nations won't trade with us. We won't trade with them,’ alluding to substantial economic repercussions for countries participating in BRICS initiatives that contest the dollar's leading position.
The president's statements emerge amidst a growing discourse among BRICS members about the possibility of reducing reliance on the dollar.
Earlier in January, Trump conveyed a warning on his platform, Truth Social, highlighting his commitment to imposing tariffs on BRICS nations that pursue a new currency, asserting that such actions would not go without a response from the United States.
In 2023, during the 15th BRICS Summit, Russian President Vladimir Putin stressed the importance of enhancing trade in national currencies and strengthening banking collaboration among member countries.
In June 2024, BRICS foreign ministers gathered in Nizhny Novgorod, Russia, calling for increased utilization of local currencies in both bilateral and multilateral trade.
Trump, referencing remarks made by former President Joe Biden regarding the US's economic power, emphasized that the United States maintains considerable leverage over BRICS nations.
He stated, 'It's not even a threat. In fact, since I made that statement, Biden said they have us over a barrel. I said, No, we have them over a barrel.'
Historically, Trump’s position reflects a broader skepticism toward multilateral agreements and alternative economic frameworks that could potentially undermine the US dollar’s established status as the primary currency for global trade.
Trump's comments specifically addressed the bloc's purported efforts to establish trading frameworks that deviate from the dollar’s supremacy.
‘The US will not engage in trade with BRICS nations if they wish to play games,’ Trump declared, indicating that any future trade interactions would face extremely high tariffs.
He added, 'Those nations won't trade with us. We won't trade with them,’ alluding to substantial economic repercussions for countries participating in BRICS initiatives that contest the dollar's leading position.
The president's statements emerge amidst a growing discourse among BRICS members about the possibility of reducing reliance on the dollar.
Earlier in January, Trump conveyed a warning on his platform, Truth Social, highlighting his commitment to imposing tariffs on BRICS nations that pursue a new currency, asserting that such actions would not go without a response from the United States.
In 2023, during the 15th BRICS Summit, Russian President Vladimir Putin stressed the importance of enhancing trade in national currencies and strengthening banking collaboration among member countries.
In June 2024, BRICS foreign ministers gathered in Nizhny Novgorod, Russia, calling for increased utilization of local currencies in both bilateral and multilateral trade.
Trump, referencing remarks made by former President Joe Biden regarding the US's economic power, emphasized that the United States maintains considerable leverage over BRICS nations.
He stated, 'It's not even a threat. In fact, since I made that statement, Biden said they have us over a barrel. I said, No, we have them over a barrel.'
Historically, Trump’s position reflects a broader skepticism toward multilateral agreements and alternative economic frameworks that could potentially undermine the US dollar’s established status as the primary currency for global trade.
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