Trump threatens 100% tariffs on BRICS nations as trade tensions rise

Donald Trump has threatened to impose a 100% tariff on goods from the BRICS nations, which include Brazil, Russia, India, China, South Africa, Ethiopia, Egypt, Iran, and the UAE. This move aims to counter efforts by these countries to reduce reliance on the US dollar. In 2023, the US imported about $578 billion in goods from BRICS, with China accounting for $427 billion. Key imports included electronics, apparel, and pharmaceuticals. Trump's tariff threat could lead to price increases on these goods. The threat follows Trump's earlier announcements of tariffs on Mexico and Canada. Russia has responded, suggesting that US economic pressure may push countries to adopt alternative currencies. Some US companies are preparing for potential price hikes if tariffs are enacted.