Trump calls BRICS 'attack' on U.S. dollar

Trump has labeled the BRICS grouping an "attack" on the U.S. dollar, claiming that he once threatened nations seeking to join the bloc with tariffs after which "everybody dropped out" and that "they're all dropping out of BRICS," he asserted. BRICS comprises Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates. The former president has repeatedly warned of new tariffs on the BRICS bloc over what he characterizes as its "anti-American" policies. During a bilateral meeting with Argentine President Javier Milei on October 14, 2025, Trump said he was "very strong" on the dollar and that "anybody who wants to deal in dollars" will have an "advantage" over those who do not. He added, "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. "BRICS was an attack on the dollar," he said. He also told potential members that if they "want to play that game, I'm going to put tariffs on all of your product coming into the U.S." The former president went on to say that if Joe Biden or Kamala Harris were elected, "you wouldn't have the dollar as your currency anymore" and "you wouldn't have a world domination by the dollar if I didn't win this election." Last month, BRICS nations expressed concerns about the growing use of trade restrictions, describing an "indiscriminate rising" of tariffs and other measures as a means of coercion, warning such practices could marginalise the Global South.