President Donald Trump’s threat to impose new tariffs on India over its participation in the BRICS forum puts New Delhi in a tough position as it races to finalize a favorable trade deal with the US.Most Read from BloombergAre Tourists Ruining Europe?

President Trump accused the BRICS alliance of aiming to undermine the US dollar, warning that member countries would face a 10% tariff. He downplayed the bloc's threat, asserting the dollar's dominance and stating that any challenges would come at a high cost.

Trump accused the BRICS alliance of trying to undermine the US dollar's global dominance, threatening consequences, including 10 per cent tariff on India. He asserted the dollar's importance and vowed to maintain its status.