Trump threatens BRICS countries with tariffs
US President Trump warned that if the BRICS (Brazil, Russia, India, China, South Africa, etc.) formed an "entity with real influence", the organization would "collapse rapidly". He also threatened to impose tariffs on member countries to maintain the status of the US dollar as the global reserve currency1.
Brazilian President Lula responded that Trump's tariff threat was "unacceptable blackmail"1.
The BRICS countries are promoting the "BRICS Pay" system to facilitate trade settlement in local currencies among member countries
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