BRICS, formed in 2009, is the only major international group of which the US is not a part. Its other members are South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates.

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.

BRICS members are India, Brazil, Russia, China, South Africa, Saudi Arabia, Egypt, United Arab Emirates, Ethiopia, Indonesia, and Iran.

The White House concluded that non-tariff methods for punishing Brazil would take too long, two people familiar with the situation said.

President Donald Trump threatened to add a 10% tariff rate on BRICS-aligned countries. The term first applied to 4 countries but the group expanded.

Despite the China-backed initiative making limited progress, dozens of nations are still eager to join.US President Donald Trump is doubling down against the BRICS bloc of fast-growing economies -- including Brazil,

Trump’s new tariff letters have sent shockwaves across global markets as he targets 22 countries with tough new trade threats just weeks before the August 1 deadline. From close allies like Japan and South Korea to BRICS nations like Brazil and South Africa,

Washington: President Donald Trump has claimed that BRICS was established to “hurt" the US and "degenerate" the dollar as he warned that the member countries of the bloc would face a 10 per cent tariff.