Trump's Tariff Threats: U.S. vs. BRICS Showdown

In an escalating trade tension, U.S. President Donald Trump reiterated his commitment to imposing a 10% tariff on imports from the BRICS group of developing nations on Friday. Trump expressed concern over the group's potential impact on the U.S. economy if they form a strong alliance.

Highlighting the dollar's status as a global reserve currency, Trump vowed to block any efforts at establishing a central bank digital currency in the United States. His tariff announcement on July 6 indicated punitive measures for countries aligning with the BRICS group's policies deemed 'Anti-American'.

Despite Trump's aggressive stance, BRICS leaders continued their diplomatic efforts, rejecting claims of anti-Americanism and advancing their cross-border payment system, BRICS Pay. The group, originally comprising Brazil, Russia, India, China, and South Africa, has expanded to include countries like Iran and Indonesia, countering U.S. policies with indirect criticism.