Trump Threatens BRICS Countries with 100% Tariff: Which Goods Will Become More Expensive in the US If It Is Introduced

Newly elected US President Donald Trump said, that the BRICS bloc (Brazil, Russia, India, China, South Africa, and the newly-joined Iran, the UAE, Ethiopia, and Egypt) would face a 100% tariff if they tried to create a new currency or use anything other than the U.S. dollar for international trade. Trump has demanded that these countries commit not to develop a single currency or support other currencies to replace the dollar, reports CNN.

Screenshot from Truth Social

Trump's statements coincide with his plans to raise tariffs on imports from Mexico, Canada, China and are linked to the fight against illegal migration and drug trafficking. These steps increase tensions in US trade policy with key partners.

However, the BRICS countries are important trading partners for the United States. The main one is, of course, China, which dominates the export of technological and industrial goods, while the other countries mainly supply raw materials and agricultural products.

Here are the total import figures from the BRICS countries (Brazil, Russia, India, China and South Africa) to the US:

China

Total value of imports: more than $560 billion in 2023.

Main products: electronics, household appliances, textiles and clothing, toys and data processing equipment.

The United States imports many well-known brands of electronics from China, particularly in categories such as consumer electronics, computers, peripherals, and telecommunications components.

China is a major manufacturer for companies like Apple (iPhone), as well as many Chinese brands like Xiaomi, Oppo, and OnePlus. Apple makes extensive use of Chinese manufacturing facilities for its devices, even though the company itself is registered in the United States. Most Lenovo and HP laptops sold in the United States are made in China. Dell and Acer devices also enter the American market.

Products from brands like DJI (drones, accessories) and consumer electronics from Hisense and TCL (TVs) have a strong presence in the U.S. market. Components for networking devices, including routers and switches, are made in China for companies like Cisco, as well as for local Chinese manufacturers like Huawei and ZTE. China remains a major supplier of semiconductors and other electronic components to the U.S. technology industry, including manufacturing for IT devices and automobiles.

India

Total value of imports: approximately $90 billion.

Main products: software, pharmaceuticals, textiles and precious stones.

For example, India occupies a key position in the US pharmaceutical market, supplying a significant share of generics and other drugs. At the end of 2023, Indian drug exports to the US were worth $7,5 billion, representing a 6,2% increase over the previous year. Indian drug companies such as Sun Pharma, Cipla, Lupin, and Dr. Reddy's have been gaining ground thanks to fewer price cuts, improved FDA compliance, and the introduction of innovative products such as injectables and biosimilars, which have limited competition.

Indian generics dominate the generic drug segment in the US, accounting for up to 40% of all generics consumed in the US market. This is due to the high quality of products, affordable prices and the active development of the research base of Indian manufacturers.

Brazil

Total value of imports: about $40 billion.

Main products: raw materials including iron ore, oil, meat, coffee and juices.

Brazil also supplies the United States with aircraft, including through Embraer, one of the world's largest manufacturers in the aviation industry. For example, earlier this year, Embraer signed a contract with American Airlines for 90 E175 aircraft, with an option to buy an additional 43 aircraft. If all options are exercised, the deal would be worth more than $7 billion. The aircraft are designed to carry 76 passengers and are included in Embraer's order book for 2024.

Alaska Airlines acquired 2024 Embraer aircraft in June 11, which also became part of a strategy to expand the export of Brazilian aviation equipment.

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South Africa

Total value of imports: About $15 billion.

Main products: minerals including platinum and diamonds, and fruits.

Russia:

Total value of imports has declined significantly in recent years due to sanctions and is less than $20 billion.

Main products before sanctions: oil, metals and fertilizers.

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