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US President Donald Trump has announced a 25% tariff on Indian goods, citing trade imbalances and India’s BRICS membership. He also hinted at an additional ‘penalty’ due to India’s ties with Russia, framing BRICS as a threat to the US dollar.
- Trump announced a 25% tariff on Indian goods, citing trade deficits and BRICS membership as reasons.
- BRICS has expanded to include Iran, Egypt, Ethiopia, and the UAE, with Saudi Arabia avoiding formal membership.
- The alliance is exploring a gold-backed common currency but denies pushing for de-dollarization.
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