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

US President Donald Trump threatened China, India, and some of the world's fastest-emerging economies with higher import tariffs, hitting back at BRICS' criticism of his trade policies as the bloc