'BRICS an attack on Dollar’: Trump claims Bloc nations ‘dropping out’ after US tariff threats

US President Donald Trump claimed that "BRICS was an attack on the dollar" and stressed that nations that want to deal in dollars enjoy a clear "advantage" over those that don't. He categorically warned that the US would impose tariffs on those nations seeking to join the ten-member bloc. The statement of Trump was made while attending a bilateral lunch with Argentine President Javier Milei at the White House.

Speaking at the White House, Trump claimed that the member countries of BRICS were "dropping out" of the bloc soon after he threatened to impose tariffs for attempting to replace the American currency. "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," Trump said.

"I'm very strong on the dollar, and anybody who wants to deal in dollars, they have an advantage over people that aren't. I told anybody that 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," Trump said, news agency ANI reported.

"Brics was an attack on the dollar and I said, you want to play that game, I'm going to put tariffs on all of your products coming into the US. They said, like I said, we're dropping out of Brics...They don't even talk about it anymore," he added.

Rising global debate over alternative trade mechanisms

Trump's comments followed amid growing global debate over the grouping of the BRICS, which are pushing for alternative trade mechanisms to curb dependency on the dollar globally. If the move is implemented, the financial dominance of the US will directly come under attack.

The grouping of BRICS initially comprised Brazil, Russia, India, and China. Later, the group expanded to ten full members, which include Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, the UAE, and Indonesia.

"BRICS was an attack on the dollar, and I said, You want to play that game, I'm going to put tariffs on all of your products coming into the US. They said, like I said, we're dropping out of BRICS...They don't even talk about it anymore," Trump added.

Meanwhile, India's stance on the dollar remains clear, as amid rising speculation, the External Affairs Minister S Jaishankar has emphasised that India has no intention of challenging the global role of the dollar.

"Regarding the role of the dollar, we are realistic. We have no issue with the dollar, and our relations with the US are at their best. We have no interest in undermining the dollar," Jaishankar said.