US President Donald Trump has sharply criticized the BRICS economic bloc, calling it an "attack on the dollar" and warning that any nation joining the bloc will face US tariffs. Speaking at the White House, Trump claimed his firm tariff stance has already caused countries to drop out of BRICS, undermining the alliance's ambitions. The president's remarks underline his commitment to defending the dollar's global reserve status against what he perceives as threats from emerging economic powers.
Originally comprising Brazil, Russia, India, China, and South Africa, BRICS has expanded rapidly to include Egypt, Ethiopia, Iran, UAE, and Indonesia, with other countries waiting to join. Trump views this expansion as a challenge to US economic dominance and has threatened up to 100 percent tariffs on BRICS members should they pursue de-dollarization policies.
Trump's comments came during a meeting with Argentine President Javier Milei at the White House, where he said: "I told anybody who wants to be in BRICS, that's fine, but we're going to put tariffs on your nation. Everybody dropped out. They're all dropping out of BRICS. BRICS was an attack on the dollar and I said, you want to play that game, I'm going to put tariffs on all of your products coming into the US. They said, like I said, we're dropping out of BRICS... They don't even talk about it anymore."
He characterized the BRICS grouping, originally composed of Brazil, Russia, India, China, and South Africa but now expanded to ten members including Egypt, Ethiopia, Iran, UAE, and Indonesia, as a coalition working against US interests. Trump warned of a 100 percent tariff on BRICS nations if they pursued efforts to reduce reliance on the US dollar, a move seen as an attempt by the bloc to challenge the dollar's global reserve currency status.
Meanwhile, India, a BRICS member, has clarified that it has no intention of undermining the dollar and supports upholding the multilateral trading system and international law, indicating a nuanced stance within the bloc.
Trump's tariff threats, part of his broader "America First" strategy, aim to defend the dollar's dominance and counter what he perceives as an economic threat posed by the rapid expansion and ambitions of the BRICS bloc.
This development highlights the growing tension between the US and the BRICS countries amid shifting global economic alignments and debates over the future role of the dollar in international trade and finance.
This stance by the US President comes amid growing global debate on alternative trade systems outside US-centered finance, indicating a contentious period ahead for international economic relations and the role of BRICS on the world stage.