Trump warns BRICS nations of 100% tariffs over potential move against US dollar

Washington: President Donald Trump has warned the BRICS grouping of ten nations, including India, of imposing 100% tariffs if they attempt to challenge the dominance of the US dollar.

Speaking after his swearing-in as the 47th President of the United States on Monday, Trump stated, “If the BRICS countries want to do that, then it does not matter, but we will impose at least 100 percent tax on the trade they do with the United States.”

BRICS, an intergovernmental organization, comprises Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates.

This marks the second time Trump has issued such a warning, following a similar statement in December.