Former US President Donald Trump has again attacked the BRICS bloc of nations, threatening to impose a tariff of 10% on imports from member nations and stating the bloc would disintegrate rapidly if it ever became fully operational.
Addressing a gathering last week on Friday, Trump stated, "When I became aware of this coalition from BRICS six nations, effectively I struck them very, very hard. And if ever they really coalesce in a meaningful manner, it will finish very swiftly." He did not mention individual nations but claimed the group threatened US interests. "We can never allow anyone to play games with us," he added.
The former president also reiterated his support for defending the US dollar's world dominance status as the world reserve currency. He dismissed the possibility of issuing a central bank digital currency (CBDC) in America, saying he would never let it happen under his administration.
Trump originally made the suggested 10% tariff on July 6 against countries aligned with what he called "Anti-American policies" related to BRICS. He ever since has repeatedly asserted without presenting proof that the bloc was created to subvert the United States and destabilize the dollar's position.
BRICS leaders have emphatically denied this, dismissing claims of being anti-American. Although Brazil did back off on proposals to seek a common currency during the group presidency this year, members are going ahead with projects like BRICS Pay, a cross-border payment system to facilitate trade and transactions in local currencies.
The BRICS bloc, which was initially constituted by Brazil, Russia, India, China, and South Africa, was joined last year by nations such as Iran and Indonesia. The group has been positioning itself as a spur to multilateral action, particularly with traditional platforms such as the G7 and G20 hampered by internal fissures and Trump's "America First" approach.
Trump also went directly after Brazil, announcing a 50% tariff on Brazilian imports beginning in August. Further, Washington has launched an investigation into what it terms Brazil's "unfair" trade policies.
BRICS leaders have not made an official statement about Trump's recent remarks, but the group has continued to reaffirm its commitment to multilateralism and economic cooperation between developing countries.
