US President declares BRICS “Broken Up” following economic warning
US President Donald Trump claimed on Thursday that the BRICS alliance has effectively “broken up” after his administration threatened the group with 100% tariffs should they attempt to create an alternative to the US dollar.
Trump’s bold warning to BRICS
Speaking on the issue, Trump asserted that the BRICS nations were plotting to undermine the dollar by introducing their own currency.
“BRICS states were trying to destroy our dollar. They wanted to create a new currency. So when I came in, the first thing I said was any BRICS state that even mentions the destruction of the dollar will be charged a 150% tariffs, and we don’t want your goods. The BRICS states just broke up,” Trump declared.
Calling it a surprising development, he added, “I don’t know what the hell happened to them. We haven’t heard from the BRICS states lately.”
What is BRICS?
Established in 2009, BRICS is an intergovernmental organization comprising 10 nations: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates. Notably, it is the only major international economic bloc in which the US is not a member.
For years, the alliance has explored ways to reduce reliance on the US dollar, including the potential creation of a BRICS currency.
Trump’s long-standing stance against BRICS
Even before taking office, Trump had warned that any move by BRICS to introduce an alternative currency would be met with severe economic retaliation. Just last week, he reiterated his stance, vowing to impose a 100% tariffs on BRICS nations, denouncing the alliance as a group “created for a bad purpose.”
“BRICS was put there for a bad purpose, and most of those people don’t even want it. They don’t want to talk about it now. They are afraid to talk about it because I told them if they want to play games with the dollar, then they’re going to be hit with a 100% tariff,” he stated.
Concluding his remarks, Trump went a step further, declaring that “BRICS is dead.”
