Donald Trump announced Saturday he would impose a 100% tariff on BRICS nations, a group of major developing economies whose members include Russia, India, China and Iran, among others, adding to the latest threats by the president-elect—whose first administration sparked a trade war with China—to impose tariffs on imports from several countries.
The proposed tariffs would remain until those nations commit to not backing a new currency to ... [+]
In a post on Truth Social, Trump said the 100% tariff would affect all BRICS countries—Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia and the United Arab Emirates—until they commit to not creating a new BRICS currency or back another currency that could replace the “mighty” dollar.
This is a developing story.
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