The US president vowed higher tariffs on BRICS nations that align with the bloc's plans to challenge US hegemony. Despite the China-backed initiative making limited progress, dozens of nations are still eager to join.
Trump sees BRICS, whose leaders held their annual summit in Brazil, as a threat to US power© Eraldo Peres/AP Photo/picture alliance
US President Donald Trump is doubling down against the BRICS bloc of fast-growing economies - including Brazil, Russia, India, China and South Africa - warning that their push to undermine the US dollar's dominance threatens America's economic supremacy.
Just as BRICS leaders convened in Rio de Janeiro for their annual summit, Trump on Sunday vowed to slap an additional 10% tariff on any nation backing the group's "anti-American policies," piling pressure on top of existing and threatened trade levies.
The Trump administration's 90-day pause on higher tariffs is set to expire Wednesday and letters have been sent to inform dozens of countries of their new US import levy, according to the White House.
Trump fired off letters to 14 heads of countries on Monday, informing them of their new tariff rate
While his latest threat is much lower than the 100% tariffs promised in January on countries that "play games with the dollar," Trump remains adamant about the need to safeguard the world's reserve currency.
Over the past decade, BRICS has swelled from four to 10 members, including Indonesia, which joined in January. Saudi Arabia is listed as a member but has yet to confirm its status. The bloc also has nine partner countries, while dozens of others are lining up to join.
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