What poses such a significant threat to the US dollar? President Donald Trump is worried.

Trump on US Currency: Trump called BRICS an “attack” on the US dollar, claiming that he threatened to impose tariffs on countries that wanted to join BRICS – after which they backed down.

Trump Attack on BRICS:  US President Donald Trump, who caused a stir this year by imposing tariffs on countries around the world, is now concerned about the US currency, the dollar. This supremo of the global superpower America believes that a major conspiracy is being hatched against the dollar, and he has blamed the BRICS countries for this. Trump, calling BRICS an "attack" on the US dollar, claimed that he threatened to impose tariffs on countries that wanted to join BRICS – after which they backed down.

Who threatens the dollar?

The BRICS group includes Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates (UAE). Trump has threatened to impose additional tariffs on these countries, saying they are pursuing an "anti-American policy." Meanwhile, the BRICS countries have expressed serious concerns about Trump's arbitrary tariffs, which impact global trade.

In a bilateral meeting with Argentine President Javier Melli, Trump said he had a very tough stance on the dollar and that "Anyone who wants to transact in dollars will have an advantage over those who don't."

Why is Donald Trump scared?

Trump said, "I told all the countries that want to join BRICS... fine, but we'll impose tariffs on your country. Everyone backed down. BRICS is an attack on the dollar." He further said, "If any country wants to join BRICS, I will impose tariffs on all your products coming into the United States."

The BRICS countries said in a statement last month that such "indiscriminate tariff increases" could disrupt global trade and encourage trade-restrictive policies. The Trump administration has imposed high tariffs on several countries this year.

India also affected

It's worth noting that the US has imposed a 25 percent base tariff on Indian imports, in addition to an additional 25 percent tariff on Indian imports due to the purchase of cheaper crude oil from Russia. This results in a total US tariff of 50 percent on Indian exports, adversely impacting India-US trade.