‘To Degenerate Dollar…’: US President Trump Says BRICS Nations Including India Will Have To Pay 10% Tariff | India News
President of the United States Donald Trump on Tuesday said that BRICS nations, including India, will have to pay a 10% tariff as part of the grouping. Trump said that BRICS was made to hurt the United States and devalue the US dollar. He also reiterated that the August 1 deadline is final and there won’t be a further extension for nations failing to seal a trade deal with the US.
“They (India) will certainly have to pay 10% if they are in BRICS because BRICS was set up to hurt us, to degenerate our dollar…The Dollar is king. We are going to keep it that way. If people want to challenge it, they can. But they will have to pay a big price. I don’t think any of them are going to pay that price,” said Trump while responding to media questions.
He further said, “It has always been August 1 (deadline)…Tariffs are charged by other countries at levels that are ridiculous. I called those other countries, and now everyone is willing to give us everything…For years, they ripped us off and we didn’t have a President that understood it…”
Earlier, Trump announced on the social media platform Truth Social that tariffs will come into effect on August 1, 2025, and must be paid without any extensions. “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. There has been no change to this date, and there will be no change. 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 posted.
Clarifying the intent behind these measures, US President Donald Trump said, “We’re always subject to negotiations when something is fair, but we’ve talked to most of the countries. Pretty much they have had their way for many, many decades. It was time that we just wanted fairness. This is not really equitable from our standpoint because this is a small token by comparison to damages been done over the years but we had no other president that was willing to do this, but I did it.”
When asked if he is firm on his August 1 deadline for US tariffs, US President Donald Trump says, “I would say firm but not a 100 per cent firm. If they call up and they say we would like to do something in a different way, we will be open to that,” he added. Trump also confirmed that his administration had sent letters to 14 countries informing them of the reciprocal tariffs set to take effect from August 1.
