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What will be the outcome of Trump's tariff threat on BRICS by the end of 2025?
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Resolution / Starting Odds
100% tariffs imposed • 25%
Partial tariffs imposed • 25%
No tariffs imposed • 25%
Tariff threat retracted • 25%
Official announcements from the U.S. government or Department of Commerce
Story
Trump Mistakenly Labels Spain as BRICS Member, Threatens 100% Tariffs on BRICS
Jan 21, 2025, 06:45 AM
U.S. President Donald Trump mistakenly referred to Spain as a member of the BRICS group during a press interaction in the Oval Office. The BRICS acronym represents Brazil, Russia, India, China, and South Africa, a coalition of emerging economies, and Spain is not part of this group. Trump's error occurred while discussing NATO defense spending, where he criticized Spain's low contribution. He threatened to impose a 100% tariff on business transactions between the U.S. and BRICS countries if they continue efforts to de-dollarize. This statement follows previous threats made by Trump in November regarding the potential creation of a BRICS currency alternative to the U.S. dollar.
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Moderate negative impact • 25%
Significant negative impact • 25%
Positive impact • 25%
No impact • 25%
No official response • 25%
Agree to not pursue new currency • 25%
Proceed with new currency plans • 25%
Negotiate with the U.S. • 25%
No official response • 25%
Seek alternative alliances • 25%
Proceed with de-dollarization • 25%
Negotiate with the US • 25%
No significant action • 25%
Retaliatory tariffs • 25%
Diplomatic negotiations • 25%
Other • 25%
Russia • 20%
Brazil • 20%
China • 20%
South Africa • 20%
India • 20%
No retaliation • 25%
Currency devaluation • 25%
Diplomatic sanctions • 25%
Trade tariffs on U.S. goods • 25%