“Anybody that’s in BRICS” Trump Threatens 10% Tariff on BRICS Nations, Including India
US President Donald Trump has announced that BRICS nations, including India, will face a 10% tariff on their exports to the US, claiming the bloc is designed to weaken the dollar and harm American interests. The statement was made on Tuesday at the White House, a day after the administration flagged BRICS as a “growing threat” requiring action.
“Anybody that’s in BRICS is getting a 10% charge pretty soon,” Trump told reporters, adding that the alliance was “set up to hurt us, to degenerate our dollar and take it off as the standard.” Trump said the US would not allow the dollar’s status as the world’s reserve currency to be undermined, describing such a loss as “like losing a world war.”
The remarks followed the BRICS Summit in Rio de Janeiro, where leaders of Brazil, Russia, India, China, South Africa, and six new members held talks on expanding strategic cooperation, including efforts to increase trade in local currencies. The White House has expressed concern that these moves aim to reduce dependence on the US dollar in global trade.
White House Press Secretary Karoline Leavitt said on Monday that Trump is committed to ensuring the US is “fairly treated on the world stage,” adding that Washington is prepared to take “all necessary steps” to protect American economic interests.
The proposed tariffs come amid broader trade measures under Trump’s administration. Just a day earlier, Trump threatened 25% tariffs on Japan, South Korea, and 12 other nations, effective August 1, unless new trade deals are finalised. These measures replace higher duties announced in April, which had been paused for 90 days to allow for negotiations.
Trump has also signed an executive order extending the pause while formally notifying countries of the upcoming taxes on their exports. The administration argues these tariffs are necessary to counter unfair trade practices and protect American manufacturing and currency stability.
Analysts warn that the tariffs could disrupt global trade flows, raise import prices for American consumers, and add to uncertainty for US companies dependent on imports from BRICS nations, including India, China, and Brazil. Markets showed early signs of concern, with emerging market currencies, including the Indian rupee, seeing mild volatility after Trump’s comments.
India has yet to issue an official response, but officials have previously indicated that any tariff escalation could impact India-US trade relations, which reached a record $200 billion in 2024. India is part of ongoing trade discussions with the US aimed at reducing friction and expanding cooperation in technology and energy sectors.
The BRICS bloc accounts for around 40% of global GDP and nearly half of the world’s population. The group’s recent expansion and discussions on reducing dollar dependency have drawn scrutiny from Washington, which sees these developments as potentially undermining the dollar’s global dominance.
Trump’s statement aligns with his broader protectionist stance as the US heads into an election year, with the administration seeking to strengthen domestic manufacturing and reduce trade deficits. However, economists warn that tariffs could strain ties with key trading partners and slow global economic recovery if retaliatory measures follow.
The situation remains fluid, with Trump indicating that negotiations remain possible before the tariffs take effect. “If they want to play that game, I can play that game too,” Trump said, signalling a hardening trade stance while leaving the door open for talks.
