Trump Attacks BRICS Threat
to Dollar Domination, Warns of Extra Tariff as Argentina withdraws BRICS
Trump Threatens New Tariffs on BRICS Nations
to Defend the US Dollar.
Trump Threatens
New Tariffs on BRICS, Calls Bloc ‘An Attack on the Dollar’
Overview: U.S. President
Donald Trump has renewed his criticism of the BRICS alliance, accusing
its members of undermining the global dominance of the U.S. dollar and warning
that Washington will impose new tariffs on nations aligning with the bloc.
Key Remarks:
·
Speaking at the White House alongside Argentine
President Javier Milei, Trump said BRICS was “an attack on the dollar”
and vowed to defend the U.S. currency’s global role.
·
“Anybody that wants to be in BRICS, that’s fine, but
we’re going to put tariffs on your nation,” Trump told reporters.
·
He claimed that after his warning, “everybody dropped
out” of the alliance, adding that BRICS was “fading out fast.”
·
Trump also criticized China for purchasing Argentine
soybeans instead of U.S. produce, calling it an attempt to “damage Washington’s
relationship with Buenos Aires.”
Policy Threats:
·
Trump reiterated that any country aligning with BRICS
policies or pursuing de-dollarization efforts could face tariffs of
up to 10% or more.
·
In 2024, he had similarly threatened 100%
tariffs if the bloc proceeded with plans to launch a rival global currency.
·
The administration, Trump said, is determined to “defend
the dollar’s position” and act against alliances it deems “anti-United States.”
BRICS Expansion
and Diverging Views:
·
The BRICS bloc — originally Brazil, Russia, India,
China, and South Africa — expanded in 2024 to include Egypt, Ethiopia,
Iran, and the UAE, followed by Indonesia in 2025.
·
While members have discussed greater use of local
currencies in trade, they remain divided on de-dollarization.
·
India’s Foreign Ministry clarified on July 17
that “de-dollarisation is not on the agenda,” emphasizing that talks were
limited to cross-border payment mechanisms.
Context: Trump’s latest
comments come amid rising global tensions over trade and currency alignment, as
China and Russia push for alternatives to the U.S.-led financial system.
Analysts say the remarks reflect the administration’s broader strategy of using
tariffs as a geopolitical tool to preserve the dollar’s global primacy
and discourage economic blocs outside U.S. influence.
US
President Donald Trump has once again accused the BRICS bloc and its members of
undermining the strength of the US dollar. During a meeting with Argentine President
Javier Milei at the White House on Tuesday, Trump said the United States would impose
new tariffs on countries choosing to work alongside BRICS.
“I’m
very strong on the dollar, and anybody who wants to deal in dollars has an advantage
over people who aren’t. Anybody that wants to be in BRICS, that’s fine, but we’re
going to put tariffs on your nation,” Trump told reporters, adding that BRICS was
“an attack on the dollar.”
Trump’s full remarks on tariffs
and BRICS
Speaking
alongside Milei, Trump said that the tariff warning had already made several countries
reconsider their association with the bloc. “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 said. Trump added that his administration
is determined to defend the dollar’s global position and warned that his government
would continue to act against any alliance seen as threatening it. Trump called
the organisation “anti-United States” and warned that any nation adopting BRICS
policies could face additional tariffs.
He
also called out China’s recent move to buy soybeans from Argentina instead of the
US, calling it an attempt to damage Washington’s relationship with Buenos Aires.
BRICS
originally included countries like Brazil, Russia, India, China, and South Africa,
and has expanded. In 2024, the bloc welcomed Egypt, Ethiopia, Iran, and the United
Arab Emirates, followed by Indonesia in 2025.“China likes
to draw wedges. I guess that’s natural, but it’s not going to mean anything in the
end,” he said.
‘BRICS is fading out fast’
Back
in July, Trump said on social media: “Any country aligning themselves with the anti-American
policies of BRICS will be charged an additional 10% tariff. There will be no exceptions
to this policy.” India, China, and Russia are currently the countries most affected.
Speaking
at a White House event, Trump accused BRICS of trying to undermine the global role
of the dollar. “We have this little group called BRICS, which is fading out fast.
They wanted to try and take over the dollar, the dominance of the dollar and the
standard of the dollar,” he said.
Meanwhile,
while BRICS members have discussed increasing local currency use in trade, they
remain divided on the idea of reducing reliance on the US dollar. India clarified
its position on July 17. Ministry of External Affairs spokesperson Randhir Jaiswal
said, “Cross-border payments, yes, BRICS have talked about local currencies, but
de-dollarisation is not something that is there on the agenda.”
This
is not the first time Trump has made such a threat. In 2024, he warned of 100% tariffs
on BRICS nations if they moved forward with plans to launch a rival global currency.