Trump's Statement on "Leaving BRICS" and Tariffs – What It Means for BRICS+ Business

Washington's new tough rhetoric was the catalyst: Donald Trump, during a meeting with Argentine President Javier Milei, stated that BRICS is "an attack on the dollar," threatened tariffs on all bloc countries and even those considering joining, and claimed that "countries began to leave" the association after these threats. These points are already shaping the agenda for exporters and investors from BRICS+ countries.

What Exactly Did Trump Say About BRICS and Tariffs?

Key points include tariff pressure on all BRICS countries and potential candidates, as well as interpreting BRICS as "an attack on the dollar." He publicly stated this at his meeting with Milei, as reported by TRUD citing RIA Novosti, adding that companies operating in dollars gain an advantage, and the U.S. is ready to impose tariffs on those wishing to join BRICS, as reported by EADaily.

"I said, 'If you want to play that game, I'm going to put tariffs on all your stuff coming into the United States.' They said—we're leaving BRICS. We're all leaving BRICS. They're all leaving BRICS.'"

Is There Confirmation of "Mass Exodus" of Countries from BRICS?

No. There is no official confirmation: Russian Presidential Press Secretary Dmitry Peskov directly stated that he "does not have such information," as stated by PRIME. Furthermore, since the association's inception, no BRICS country has ever left it, as noted by Radio 1.

How Are Key Players Reacting, and What Explains Trump's Rhetoric?

The main line of reaction is the denial of "exit" facts and the interpretation of Trump's words as instrumental rhetoric.

Political scientist Marat Bashirov suggested that the statements might have a tactical goal – to encourage Javier Milei for Argentina's refusal to join BRICS, while noting Trump's tendency towards exaggeration, as reported by Lenta.ru. State Duma Deputy Alexey Chepa believes that Washington's concern is linked to the threat to the dollar's position and BRICS' growing weight, adding that the association will continue to develop and expand, as he stated in a comment to Life.ru.

What Are the Possible Systemic Consequences for the Currency and Trade Architecture?

If rhetoric turns into policy, the key shift would be a differentiation of access to the U.S. market based on participation in BRICS and settlement currencies: Trump directly emphasized the "advantage" of operating in dollars and the readiness to apply tariffs against BRICS entrants, as he explained by EADaily. The topic of tariff pressure is not new: in July, he already threatened additional 10% tariffs, as recalled by RuSamara.

What Tactical Risks and Opportunities Does This Create for Companies from BRICS+ Countries?

The main short-term risks include the potential imposition of U.S. tariffs on goods from BRICS countries and candidates, and regulatory uncertainty for transactions outside dollar jurisdiction. Opportunities lie in preemptive adaptation of supply chains and settlement policies, taking into account Washington's declared "red lines."

• Exporters to the U.S. from BRICS/candidate countries: Test stress scenarios for tariffs, recalculate margins, include tariff force majeure clauses in contracts.
• Corporations with multi-currency settlements: Assess the share of dollar contracts and operational readiness to reconfigure payment routes if the U.S. market is strategic.
• Potential BRICS participants: Public communication with investors and clients about the risk of "secondary" tariffs and mitigation plans.
• Manufacturers with a high share of U.S. revenue: Accelerate market diversification and/or localization in North America to reduce tariff sensitivity.
• GR/Compliance functions: Monitor the translation of statements into specific acts, criteria for application, and lists of affected countries/goods to act based on facts, not rhetoric.

Conclusion: For now, this is political pressure without confirmed exits from BRICS; however, the "BRICS – attack on the dollar – tariffs" linkage itself already sets a risk framework for companies dependent on the U.S. market and/or non-exchange-traded currency settlements. Proactive measures today are cheaper than forced restructuring tomorrow.