India US deal: ‘BRICS will have to pay 10 per cent if they hurt us’, says Donald Trump

US President Donald Trump warned that members of the BRICS alliance would face a 10 per cent tariff if they act against American interests. Trump alleged that BRICS was created to weaken the US dollar and suggested that the tariff could be imposed soon on countries within the bloc.

“BRICS was set up to degenerate our dollars. Anybody that’s in BRICS is getting a 10 per cent charge,” Trump said, accusing the group of trying to undermine the dollar’s dominance. “The dollar is king, and we want to keep it that way. And if people want to challenge it, they will have to pay for it,” he asserted.

Addressing questions about potential tariffs on BRICS nations, Trump reiterated his accusation that the group was formed “to hurt us” and “to degenerate our dollar.”

He added, “That’s OK if they want to play their game. But I can play that game too. So anybody that’s in BRICS is getting a 10% charge.”

Earlier, Trump reiterated his tariff plans on his social media platform, Truth Social, writing: “As per letters sent to various countries yesterday, in addition to letters that will be sent today, tomorrow, and for the next short period of time, tariffs will start being paid on August 1, 2025.”

He emphasized that there would be no changes or extensions to the deadline. “In other words, all money will be due and payable starting August 1, 2025—no extensions will be granted. Thank you for your attention to this matter!” he added.

US Treasury Secretary Scott Bessent reported that US tariff revenues have surpassed $100 billion and could potentially reach $300 billion by the end of the year.

President Trump noted that tariffs are reaching “record” levels, with significant revenue expected to come in later this summer. According to Reuters, Trump stated, “We are seeing tremendous amounts of money coming into our country, something we have not experienced before. The substantial revenue is anticipated to begin on August 1st.”

Furthermore, Trump criticised past US leadership for adhering to the rules of other nations that impose high tariffs. He attributed this to “stupid people or individuals lacking business acumen”.