Trump has threatened to impose 100% tariffs against the bloc if they take any moves to undermine the dollar. Last year, at the summit hosted by Russia in Kazan, the Kremlin sought to develop alternatives to U.S.-dominated payment systems which would allow it to dodge Western sanctions imposed after Russia’s invasion of Ukraine in February 2022

President Donald Trump said the U.S. will impose an additional 10% tariff on any countries aligning themselves with the "Anti-American policies" of the BRICS group of developing nations, whose leaders kicked off a major summit in Brazil on Sunday.

United States President Donald Trump on Sunday said that Washington will impose additional 10% tariffs on countries aligning with the “anti-American policies” of the BRICS grouping. “There will be no exceptions to this policy,” Trumps said on social media. The US president did not elaborate on what he claimed were “anti-American policies”.