“Dollar Is King”: Trump Threatens BRICS With 10% Tariff, Warns They’ll “Pay a Big Price”
Trump vows a 10% tariff on all BRICS imports, accusing the bloc of trying to “degenerate” the US dollar. Tariffs set to take effect from August 1—BRICS leaders push back
US President Donald Trump
U.S. President Donald Trump has issued a pointed warning to the BRICS bloc—Brazil, Russia, India, China, South Africa, and five newer members—announcing a 10% tariff on all BRICS imports during a recent Cabinet meeting. He declared, “They will certainly have to pay 10% if they are in BRICS… BRICS was set up to hurt us, to degenerate our dollar.”
Trump emphasized that the dollar remains sovereign, stating, “The dollar is king… If people want to challenge it, they can—but they have to pay a big price and I don’t think any of them are willing.” He described losing the dollar’s reserve status as akin to “losing a war, a major world war.”
While specifics of when the tariff will begin weren’t confirmed, Trump said it will be implemented “pretty soon,” likely starting August 1, with no extensions for the 14 other countries already facing new U.S. tariffs.
BRICS leaders responded at their Rio de Janeiro summit (July 6–7) by denouncing U.S. unilateralism and reaffirming calls for less reliance on the dollar—though they clarified they don't intend to replace it, only to secure alternative mechanisms.
