Trump ramped up his trade threats against a group of nations that are skeptical of the dollar. Here's what the US buys from the 9 countries at risk.

In a November 30 Truth Social post, Trump targeted the BRICS group, which comprises nine countries: Brazil, Russia, India, China, South Africa, Ethiopia, Egypt, Iran, and the United Arab Emirates. He wrote that he would impose a 100% tariff on those countries unless they committed to not creating another currency that competes with the dollar.

Census Bureau trade data showed that in 2023, the BRICS nations together accounted for about $578 billion in imports to the US. China was responsible for the lion's share of that trade, with about $427 billion.

While it appears Trump is using the tariff threats as a negotiating tool and could choose not to implement them at the scale he's proposing, the top imports from the targeted countries could see prices increase even with smaller tariffs.

Trump's trade announcements seem to be a negotiation tool; this time, he's warning BRICS against competing with the US dollar.

Read at Business Insider