As Donald Trump enters the White House for the second time this week, many wonder what his foreign policy will look like after his decisive election victory in November.
Trump has pledged to impose a 100% tariff on BRICS nations if they continue undermining the U.S. dollar. However, analysts told CNBC this move won’t halt the group’s growth.
In the latest development, Brazil announced Indonesia’s official admission to BRICS last Monday.
Under President Biden, the U.S. has shown indifference towards the 10-member BRICS coalition, with National Security Communications Advisor John Kirby stating last October that the U.S. does not see BRICS as a “threat.” However, with Trump’s upcoming administration, that sentiment could shift, especially with early indications he may push for tariffs on BRICS nations if they continue to challenge the U.S. dollar.
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