President Donald Trump speaks during a Cabinet meeting in the Cabinet Room of the White House on July 8, 2025. Andrew Caballero-Reynolds/AFP via Getty Images
President Donald Trump on July 8 reiterated a previous warning to nations in BRICS (Brazil, Russia, India, China, and South Africa) that he would be imposing an additional 10 percent tariff on them, saying the bloc was created to replace the U.S. dollar as the dominant currency for international trade.
Speaking to journalists during a meeting with Cabinet officials at the White House, Trump said: “If they’re a member of BRICS, they’re going to have to pay [a] 10 percent tariff just for that one thing. And they won’t be a member long.”
