After announcing fresh tariffs on 14 countries, United States President Donald Trump on Monday warned the BRICS group of an additional 10% tariff on goods from these countries. During a cabinet meeting, he alleged that the group is working to weaken the US Dollar. Notably, the BRICS bloc comprises of 11 countries including Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia, the United Arab Emirates and Indonesia, the newest member.
Warning the BRICS countries of an additional 10 percent tariff, Trump stated that they would have to pay a “big price” if their policies impact the US economy. He highlighted that the formation of BRICS aims to undermine the US dollar, affecting the economy negatively.
“They will certainly have to pay 10% if they are in BRICS because BRICS was set up to hurt us, to degenerate our dollar,” Trump said.
“And that’s OK if they want to play that game, but I can play that game too. So, anybody that’s in BRICS is getting a 10 per cent charge… If they are a member of BRICS, they are going to have to pay 10 per cent tariff, just for that one thing. And they won’t be a member for long,” he added.
The Dollar Is King: Trump
Trump reiterated his position on US Dollar’s strength, saying, “The dollar is King.” He asserted that anyone can choose to challenge this notion, but it will come at a heavy price. However, he added that none of the countries are willing to pay that price.
“The dollar is king, we gonna keep it that way. I am just saying if people wanna challenge it they can, but they have to pay a big price and I don’t think any of them is willing to pay that price,” he added.
The BRICS bloc has been critical of Trump’s tariff policies, calling them inconsistent with World Trade Organisation (WTO) rules. These nations collectively account for 40% of global GDP and nearly half of the world’s population. The US sanctions, especially targeting countries like Russia and China, is seen by BRICS as coercive and harmful to global trade. Moreover, the group has always called for reforms in institutions like, International Monetary Fund (IMF), UN Security Council, and World Bank, criticizing US dominance over these bodies.
Meanwhile, Trump’s administration is currently pushing for bilateral trade agreements, with new tariffs set to take effect on August 1. The new tariffs have been issued for the countries that have not reached a deal with the US.
No Extensions Will Be Granted: Trump On Fresh Tariffs
Trump, in a post on his Truth Social platform, stated that there will be no changes to the date for the tariffs to go into effect. He further cleared that no extensions will be granted to these 14 countries.
He wrote, “As per letters sent to various countries yesterday, in addition to letters that will be sent today, tomorrow, and for the next short period of time, TARIFFS WILL START BEING PAID ON AUGUST 1, 2025. There has been no change to this date, and there will be no change. In other words, all money will be due and payable starting AUGUST 1, 2025 – No extensions will be granted. Thank you for your attention to this matter!”
Also Read: Elon Musk Says Exposing Jeffrey Epstein Files ‘Top Priority’ For America Party
