Trump labels BRICS ‘anti-American’—renews 10% tariff warning

In a fresh threat to the fast-growing BRICS coalition, which now includes 10 nations and was originally represented by Brazil, Russia, India, China, and South Africa, US President Donald Trump said in a social media post that any country aligning itself with the “anti-American policies” of BRICS would face an additional 10 per cent tariff.

Trump had threatened BRICS nations of a 100 per cent tariff “if they so much as even think” about reducing the use of the dollar in global trade.

Ever since the US weaponised the global financial infrastructure by excluding Iran (in 2012) and Russia (in 2022) from the Society for Worldwide Interbank Financial Telecommunication (SWIFT), countries around the world have sought to reduce their dependence on the US dollar and the US-led global financial system. Most notably, Russia and China began trading in domestic currency.

BRICS now accounts for 45 per cent of the global population and contributes over 35 per cent to the world’s GDP.

At their summit held in Kazan, Russia, in October 2024, the founding five members—Brazil, Russia, India, China, and South Africa—formally admitted Egypt, Ethiopia, Iran, and the United Arab Emirates as new members. Indonesia joined the grouping later in January 2025, bringing the total membership to ten.

In June 2022, Russia proposed the creation of a new international reserve currency based on a basket of currencies from BRICS countries. However, according to a BRICS report, member nations said they “do not seek to replace the US dollar as a medium of exchange”. Instead, BRICS aims to “offer a viable alternative that will aid the market in its perpetual mission for efficiency” and foster greater prosperity, promoting universally beneficial and inclusive economic globalisation.

Trump’s threat coincides with the US dollar hitting a three-year low this year, after declining by over 10 per cent against a basket of currencies such as the euro and yen, due to expected disruptions in the US economy stemming from proposed tariffs.India’s position and dealings in BRICS.

Source: Indian Express