Trump's tariff threats against BRICS nations
Donald Trump just announced a 10% tariff on countries supporting the BRICS group, saying it's a move against what he calls "anti-American policies."
This could shake things up for BRICS members like Brazil, Russia, India, China, South Africa, Iran, and Indonesia—especially since they've been looking to boost their own economic power and rely less on the US dollar.
US tariffs could slow down or even halt BRICS's shared currency
BRICS has been talking about launching a shared currency to make trade easier and sidestep US sanctions.
But with these new tariffs in play, trading could potentially get more expensive for member countries.
That might slow down their plans or even make some reconsider staying in the group.
Basically, this move could potentially change how BRICS works—and how much influence it has going forward.