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Trump vs. BRICS: Customs duel threatens to harm the US economy!
US tariffs against BRICS could do more harm than good to the US, according to data. Trade deficit and countermeasures threaten.
Trump vs. BRICS: Customs duel threatens to harm the US economy!
There is a huge clash between the USA and the BRICS bloc! Donald Trump, back in the Oval Office, is brandishing the threat of tariffs, but the consequences could backfire. BRICS, consisting of Brazil, Russia, India, China and South Africa, is pushing the move away from the dollar, and Trump finds it anything but funny. He wants to keep the green banknote on the throne and is prepared to pay out heavily for it. But be careful: data indicates as watcher.guru reports, that this threat could ultimately cause more harm than good for the United States.
The heart of the conflict lies in broken trade: According to Statista, the US economy echoes deficits in the BRICS countries. In 2023, the US had shipped nearly $300 billion worth of goods to the alliance while purchasing nearly $650 billion in goods. Given this huge imbalance, retaliatory tariffs from the bloc could drive up U.S. import costs. Trump hates deficits, but can he force BRICS to withdraw or is he playing with fire? The next few months will show whether his strategy works or whether he will be presented with the bill. Nitpicky, selfish or even brilliant? Only time will tell as the global economy stands at a crossroads.