Donald Trump announced on Saturday his intention to impose a 100% tariff on all BRICS nations, a coalition of major developing economies that includes Russia, India, China, Iran, and others. This move adds to the president-elect’s series of tariff threats, reminiscent of his first administration’s trade war with China, targeting imports from several countries.
In a post on Truth Social, Trump stated that the proposed tariffs would apply to all BRICS countries—Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the UAE. These tariffs would remain in effect until these nations pledge not to create a new BRICS currency or support an alternative currency that could challenge the dominance of the U.S. dollar, which he referred to as the “mighty” dollar.
