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Trump had previously made similar threats before taking office, indicating that BRICS nations would face 100% tariffs on imports to the US should they try to introduce a new currency.
US President Donald Trump (AP Photo)
US President Donald Trump on Friday said that the BRICS nations, including India, “broke up” after he threatened to impose a 150 per cent tariff on them for undermining the dollar.
BRICS, an intergovernmental organisation, consists of 10 countries: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates.
“BRICS states were trying to destroy our dollar. They wanted to create a new currency. So when I came in, the first thing I said was any BRICS state that even mentions the destruction of the dollar will be charged a 150% tariff, and we don’t want your goods and the BRICS states just broke up,” said Trump.
He added that he hadn’t heard about the BRICS after the 150 per cent tariff threat. “I don’t know what the hell happened to them. We haven’t heard from the BRICS states lately,” Trump said.
At the plenary session of the 15th BRICS Summit in 2023, Russian President Vladimir Putin advocated for de-dollarisation, urging that “BRICS nations should increase transactions in national currencies and strengthen cooperation among their banks.”
President Donald Trump on February 13 warned the BRICS nations that they could face 100% tariffs from the United States “if they attempt to undermine the dollar.”
He declared the BRICS organisation as “dead” and reinforced his position, stating that the US would not engage in trade with any member of the bloc if they attempted to replace the US dollar with another currency.
Earlier in January, Trump had issued a similar warning, threatening to impose tariffs on BRICS countries if they moved forward with creating an alternative to the US dollar.
Trump had previously made similar threats before taking office, indicating that BRICS nations would face 100% tariffs on imports to the US should they try to introduce a new currency.
