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Donald Trump has announced that the BRICS group of nations will face an additional 10% tariff on their goods. He accused the group of aiming to weaken the US dollar. The BRICS bloc, consisting of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia, the United Arab Emirates, and Indonesia, would be subject to these tariffs if their actions negatively affect the US economy. Trump stated that those in BRICS would have to pay the additional tax because the bloc was formed to undermine the US dollar. He emphasized the strength of the US dollar, proclaiming, “The dollar is King.” The administration is also focused on securing bilateral trade agreements, with new tariffs scheduled to begin on August 1, 2025.
