Donald Trump's 100% BRICS Tariff threats: How India could be affected in a renewed trade war
Donald Trump prepares for his second term as US President, his aggressive trade stance is already creating ripples in the global economy. A key element of his protectionist policies is the threat of imposing 100% tariffs on BRICS countries, including India, if they move away from using the US dollar in international transactions. This bold stance, declared through a scathing social media post, could have severe consequences for India’s exports, particularly in critical sectors such as pharmaceuticals, textiles, and information technology.
Trump’s remarks come in response to discussions among BRICS nations, which include Brazil, Russia, India, China, and South Africa, regarding the possibility of reducing their reliance on the US dollar for trade. A summit held in Russia in October focused on increasing local currency transactions, a move that Trump has now vowed to challenge. “The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER,” Trump wrote, warning that any country attempting to replace the dollar with another currency would face significant tariff hikes.
Also Read: Trump threatens 100% tariff on BRICS countries over currency plans
A Threat to India’s Economic Growth?
Trump’s tariff threats are particularly concerning for India, which maintains a strong trade relationship with the US. The US is India’s largest trading partner, with bilateral trade surpassing $120 billion in FY24. India’s export portfolio to the US is diverse, spanning textiles,
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