Priding on “world domination by the dollar”, US President Donald Trump reiterated his criticism of the BRICS group, saying it aimed at “attacking” the US dollar.
Speaking at a bilateral meeting with Argentine President Javier Milei on Tuesday, Trump said that “anybody who wants to deal in dollars” will have an “advantage” over those who do not.
“BRICS was an attack on the dollar,” he said.
Trump said “everybody dropped out” after he threatened nations seeking to join the bloc with tariffs.
“...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, adding that he told potential members that if they “want to play that game, I’m going to put tariffs on all of your products coming into the US”.
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BRICS comprises Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates. The 17th BRICS summit held in Rio De Janeiro, Brazil, in July, 2025, had irked Trump, who accused it of conspiring to undermine the dollar and indulging in “anti-American” policies.
After Trump’s constant threats to impose high tariffs on nations that are a part of BRICS, the bloc voiced serious concerns about the rise of unilateral tariff and non-tariff measures which distort trade.
Last month, the BRICS nations expressed concern over the proliferation of trade-restrictive actions in the form of “indiscriminate rising” of tariffs, particularly measures used as a means of “coercion”, cautioning that such practices risk marginalising the Global South countries.
Trump imposed tariffs on multiple countries, including 50 per cent on Indian and Brazilian exports – amongst the highest of all.
Comparing his tenure as president with that of former President Joe Biden and Democrat Kamala Harris, Trump said, “you wouldn’t have the dollar as your currency anymore” if either of the two had been president.
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