Trump claims BRICS 'broke up' after his 150% tariff threat over dollar undermining
PTC Web Desk: Former US President Donald Trump on Friday claimed that the BRICS alliance collapsed after he imposed a 150% tariff threat on member nations for attempting to weaken the US dollar.
BRICS, an intergovernmental organisation comprising Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the UAE, has been exploring alternatives to the dollar in global trade.
"BRICS states were trying to destroy our dollar. They wanted to create a new currency. So when I came in, the first thing I said was any BRICS state that even mentions the destruction of the dollar will be charged a 150% tariff. We don’t want your goods, and the BRICS states just broke up," Trump stated.
His comments come amid ongoing global discussions on de-dollarisation and BRICS' push for a multipolar financial system, challenging the dominance of the US dollar in international trade.
In a recent address, Trump said, "I have no idea what happened to them. We haven’t heard from BRICS lately." His remarks follow his previous threats of 100% to 150% tariffs on BRICS member nations if they attempted to replace the US dollar with an alternative currency.
On February 13, Trump warned that BRICS nations would face severe trade penalties if they sought to undermine the dollar’s dominance. He further declared that the BRICS bloc was effectively "dead", emphasising that the US would cut trade ties with any country trying to introduce a competing global currency.
This stance aligns with his earlier warnings, dating back to before his presidency, when he vowed to impose steep tariffs on imports from BRICS nations should they launch a rival financial system.
Trump's comments come amid increasing efforts by BRICS members to reduce dependence on the US dollar. During the 15th BRICS Summit in 2023, Russian President Vladimir Putin called for expanded trade in national currencies and deeper banking cooperation among member states.
- With inputs from agencies
