Following the imposition of new tariffs on several countries, former US President Donald Trump warned the BRICS group of an additional 10% tariff on their goods. Trump, during a cabinet meeting, claimed that BRICS is working to weaken the US Dollar. The BRICS bloc, which includes Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia, the United Arab Emirates, and Indonesia, will face these tariffs if their policies harm the US economy. He argued that the formation of BRICS is intended to undermine the US dollar. Trump emphasized, “The dollar is King,” and said that any country challenging its status would face consequences. Meanwhile, the administration is pursuing bilateral trade agreements, with the new tariffs set to take effect on August 1, 2025.
