Official announcement from the U.S. government or Department of Commerce

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.