The BRICS Threat Isn't Over Yet!
US President Donald Trump has again threatened to impose 10% tariffs on imports from BRICS member countries. In his comments on Friday, Trump stated that if BRICS significantly expands, the group will soon cease to exist. While not naming any BRICS member countries, Trump asserted that the United States will not allow other countries to "mob" them. This threat highlights the growing tensions between the United States and the countries within the group.
Trump had previously announced new tariff plans on July 6, which would be applied to countries that support what he called "anti-American" policies pursued by BRICS. The BRICS group, comprising Brazil, Russia, India, China, and South Africa, as well as emerging powers like Iran and Indonesia, has emerged as an alternative to multilateral diplomacy amid tensions with Western powers. However, Trump continues to claim that the BRICS' goal is to harm the United States and undermine the dollar's role as the world's reserve currency.
Despite Trump's claims, BRICS leaders have denied that the group was formed to oppose the US. They have also stated that BRICS is focused on strengthening economic cooperation among its member states, not on anti-American objectives. The group is even working to develop a cross-border payment system called BRICS Pay, which would allow trade transactions to be conducted in local currencies, reducing reliance on the US dollar.
In addition to threatening tariffs against BRICS, Trump has also targeted Brazil with more aggressive policies. He announced 50% tariffs on Brazilian imports, which will begin in August. This is part of a separate US investigation into alleged "unfair" trade practices by Washington against Brazil. This policy has escalated trade tensions between the two countries, especially after Brazil abandoned plans to promote the use of a common currency within the BRICS group.
Meanwhile, despite ongoing divisions in international forums like the G7 and G20, BRICS continues to demonstrate that it can be an alternative force in global diplomacy. At a summit in Brazil last year, BRICS leaders criticized US military and trade policies but continued to emphasize the importance of multilateralism. With the growth of this group, many are beginning to question whether the future of the global economy will shift away from US dominance.
Source: Newsmaker
