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

The warning came hours after BRICS leaders opened their summit in Brazil with a joint statement criticizing global trade barriers and calling for reform of international institutions. Trump’s message coincides with efforts to finalize dozens of trade ...

Leaders of the BRICS group of major emerging economies are meeting in the Brazilian metropolis of Rio de Janeiro on Sunday for a two-day summit. The BRICS acronym is derived from the initial letters of the founding member countries: Brazil,