U.S. President Donald Trump said on Tuesday the U.S. would "pretty soon" charge a 10% tariff on imports from BRICS countries, drawing another complaint from Brazil President Luiz Inacio Lula da Silva,

Brazil, Russia, India, China, and South Africa—accusing them of trying to “undermine the dollar.” Trump declared a 10% tariff would hit any country aligning with BRICS or challenging U.S. currency dominance.

According to the American President, losing the US dollar as the “world standard” would be akin to losing a “major world war”.