Trump warns of 100% tariffs on BRICS & India

Washington: US President Donald Trump has reiterated to impose 100 per cent import tariffs on the BRICS countries if they took any steps towards cutting the use of the dollar in global trade. The BRICS nations include Brazil, Russia, China, South Africa and India. “As a BRICS nation... they'll have a 100 per cent tariff if they so much as even think about doing what they thought, and therefore they will give it up immediately,” Trump said.

Trump, who took oath as the 47th US President on Monday, made these comments during a press meeting at the Oval Office soon after taking oath as the 47th president of the United States. He was referring to the effort to reduce the use of the dollar in global trade. BRICS, formed in 2009, is the only major international group of which the United States is not a part. Trump, however, added that his statement should not be seen as a threat but rather as a clear stance on the issue. The US President also referenced comments made by former US President Joe Biden, suggesting that Biden had indicated the US was in a vulnerable position on this matter, to which Trump disagreed, asserting that the US has the leverage over the BRICS nations and that they would not be able to proceed with their plans.

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