Trump threatens 10% tariff on Brics

21-Jul-2025

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US President Donald Trump on July 18 repeated his threat to slap a 10 per cent tariff on imports from Brics nations and ridiculed the emerging economic bloc as “fading out fast.”

Speaking at a White House event where he signed cryptocurrency legislation into law, Trump accused Brics — the group comprising Brazil, Russia, India, China, South Africa, and its newest members — of attempting to undermine the US dollar’s global dominance.

“When I heard about this group from Brics, six countries, basically, I hit them very, very hard,” Trump said. “And if they ever really form in a meaningful way, it will end very quickly. We can never let anyone play games with us.”

The president did not name the countries individually, but doubled down on his assertion that the Brics agenda posed a direct challenge to the US economy. “Brics, they wanted to try and take over the dollar, the dominance of the dollar and the standard of the dollar,” he said.