Trump Slaps 10% Tariff on BRICS, Cites Threat to Dollar Dominance
Donald Trump, the president of the United States, has declared an additional 10% tariff on all BRICS countries, including India, claiming that the gro
Donald Trump, the president of the United States, has declared an additional 10% tariff on all BRICS countries, including India, claiming that the group is undermining the dominance of the U.S. dollar. Trump said during a Cabinet meeting that BRICS was created to "hurt the U.S." and threatened to "soon pay" the fee. The decision comes after BRICS leaders demanded a rulesbased multilateral trading framework and criticised unilateral tariffs during their Rio Summit. Trump stressed that there would be no exceptions and that, absent new trade agreements, the tariffs would go into place on August 1, 2025. As BRICS increases its power and promotes dedollarization and solidarity among the Global South, the declaration exacerbates trade tensions worldwide.
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B2B Tech News | 2 days ago