U.S. President Donald Trump has labeled the BRICS alliance as an “attack” on the U.S. dollar, asserting that he warned countries interested in joining the group of impending tariffs, which ultimately led to their withdrawal.
BRICS, which includes Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates, has been a focal point of Trump’s rhetoric surrounding international trade. He has consistently threatened to impose additional tariffs on BRICS nations, describing their policies as “anti-American.”
During a bilateral meeting with Argentina’s President Javier Milei, Trump emphasized his strong stance on maintaining the dominance of the dollar in global markets, positing that any nation dealing in U.S. currency would enjoy advantages over non-compliant nations.
“I told anybody who wants to be in BRICS, that’s fine, but we’re going to put tariffs on your nation. Everybody dropped out. They’re all dropping out of BRICS,” he claimed. He further stated, “BRICS was an attack on the dollar.”
Trump expressed that he cautioned potential BRICS members that their participation in the alliance would trigger trade tariffs on their exports to the U.S. He contended that if former President Joe Biden or Vice President Kamala Harris had been in office, the dollar would not retain its status as the world’s dominant currency.
“You wouldn’t have a world domination by the dollar if I didn’t win this election,” he asserted.
In the previous month, BRICS nations raised concerns regarding the increasing use of trade-restrictive tariffs, particularly those perceived as coercive measures, warning that such actions could alienate countries in the Global South. Earlier this year, Trump had implemented tariffs on various nations, including a significant 50 percent tariff on Indian exports.
The article was published on October 15, 2025.
