Trump Tariffs: New Threat Puts India Trade Deal at Risk
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Source: Bloomberg | Original Published At: 2025-07-10 06:30:00 UTC
Key Points
- India seeks to avoid US backlash by clarifying no intent to challenge dollar dominance
- Trump labels BRICS 'anti-American' and threatens 10% tariffs on members
- Trade deal with India remains possible despite tariff threats
India is trying to shield itself from President Donald Trump’s backlash against BRICS by stressing it has no plans to challenge the US dollar’s global dominance, according to people familiar with the matter.
The US leader has labeled the BRICS group of developing nations “anti-American” and accused it of trying to undermine the dollar’s role as the world’s key currency. He has repeatedly warned of a 10% tariff on all 10 BRICS members, including India — even as he says a trade deal with New Delhi is near.