Former President Donald Trump has launched a scathing attack on the BRICS group of nations, dismissing them as a waning force and reiterating his threat to impose 10% tariffs on countries perceived as aligning with their initiatives. Trump claims his actions have undermined BRICS’ efforts to challenge the US dollar’s global dominance.

This aggressive stance comes on the heels of Trump signing the GENIUS Act into law. This legislation creates a regulatory structure for payment stablecoins while simultaneously blocking the development of a US central bank digital currency (CBDC). The move is seen by some as a preemptive strike against potential rivals in the global financial landscape.

Despite Trump’s assertions of BRICS’ anti-American stance, the group itself denies these claims. The ongoing tension highlights the intensifying geopolitical and economic competition between the US and emerging economic powers.