‘Little Group Feding Fast’: Donald Trump mocked BRICS; 10% tariff threats to protect US dollar dominance
US President Donald Trump on Friday joked the BRICS Group as a “small group”, “rapidly disappearing”. He reiterated his warning from the beginning of this month of 10 percent tariff on any nation aligning with the BRICS, which he described as “anti -American policies”. The Maga chief also claimed credit to weaken the group’s efforts to rival US dollar dominance.Speaking in the law at the Genius Act, Trump said, “There is a small group called BRICS, and it is getting out rapidly. But BRICS wanted to handle dollars and dollars dominance and dollar standard.Talking strongly about his approach to global economic rivals, Trump said, “When I heard about this group of six countries in BRICS, I hit them very hard, and if they actually be made in a really meaningful way, it will end very quickly.” Trump did not name the countries directly, but said, “We can never play the game with us.”Trump said that protecting the global reserve status of US dollar is the top priority. He said, “We are not going to slide the dollar … If we lose the dollar position as the world’s reserved currency, it would be like losing the world war,” he said.
‘Genius Act, he named it after me!’: Trump
Trump’s comments came when he signed the S.1582 Genius Act (Guiding and National Innovation for US Stabolines Act) in the law, which establishes a regulatory structure for payment stabackoin. Trump welcomed the law as a major step in strengthening American leadership in global finance and cryptocurrency.“This afternoon, we take a huge step to cement American dominance in global finance and crypto technology, as we signed the Landmark Genius Act in the law,” said Trump. “They named it after my name. This is the hell of an act!”Addressing the Crypto community, Trump said, “Over the years, you were mocked and rejected and counted … This signature is your hard work and your leading feeling and the ability to never give up … Congratulations on this incredible achievement!”He reiterated his commitment to prevent American central bank digital currency. He said, “I am fully committed to my pledge not to allow a central bank to build a digital currency in the US. It will not happen.”Treasury Secretary Scott Besent praised Trump’s move, saying it would help maintain the location of the US dollar as a global reserve currency.
BRICS denies being anti -American
Meanwhile, Trump has excluded Brazil for additional punishment, including 50 percent tariff on imports starting in August, cited “unfair” trade practices. He earlier announced a 10 percent tariff on July 6, which targets any country supporting the BRICS.The BRICS group has recently expanded to incorporate countries such as Iran and Indonesia and denied being anti -American. While Brazil has retreated from advancing a normal currency, the block continues to develop BRICS Pay, a border -cross payment system that aims to promote trade in local currencies.Despite Trump’s repeated claims, BRICS has not been given any evidence to show the BRICS to reduce the dollar or damage the US.
