US President Donald Trump’s renewed threat of imposing 100% tariffs on BRICS nations in a calculated response to the bloc’s growing efforts to challenge the dominance of the US dollar in global trade.

In a bold statement soon after becoming the 47th President of the United States, Donald Trump threatened to impose 100% tariffs on India and the other BRICS countries if they didn’t continue to lessen their reliance on the U.

Spain has a meagre contribution to NATO and as a consequence, it could face 100% tariffs from the US, according to President Donald Trump, who unfortunately confused it with a BRICS country. When a journalist asked what would happen to NATO countries that do not meet the 2% spending target, Trump replied that Spain's contribution is "very low."

BRICS, formed in 2009, is the only major international group of which the United States is not a part. BRICS consists of ten countries- Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia,

President Donald Trump threatens 100% tariffs on BRICS nations over potential 'de-dollarisation' efforts. India balances ties with the US and BRICS while ensuring its economic and strategic interests are preserved.

After US President Donald Trump confused Spain with a member of the BRICS bloc, a spokesperson for the Spanish government responded, saying she was unsure why Trump made the comment. Trump erroneously said Spain was in BRICS when a journalist asked him on Monday about NATO countries like Spain which don't meet the NATO minimum of spending 2 percent of economic output on defense.

U.S. president Donald Trump has apparently confused Spain for a member of the BRICS bloc of developing economies, causing some head-scratching and jitters over possible tariffs in Madrid