Economist rules out imposition of US duties on BRICS countries

US President Donald Trump's statement about imposing 100 percent duties on the BRICS countries because of NATO defense spending looks extremely unlikely, Associate Professor of the Department of Economic Policy and Economic Measurements at SUU Maxim Chirkov told Izvestia on January 21.

Earlier in the day, Trump said he was going to impose 100 percent duties against the countries of the association, although he does not believe BRICS poses a threat to the United States.

"Trump's statements about relations with the BRICS countries are quite emotional. <...> If we are talking about 100% duties, I think such actions are impossible," Chirkov said.

According to him, it is extremely destructive for the US economy, as it is significantly dependent on goods from the BRICS countries, especially from China, which is the main supplier of a variety of products to the US.

"I think it's about threats and selective duty increases relative to the BRICS countries. The introduction of 100 percent duties will undermine world trade relative to the United States," Chirkov explained.

According to the specialist, if 100 percent duties are imposed on the BRICS countries, retaliatory measures will follow.

"The main purpose of such statements - it is necessary to demonstrate that the new president of the United States has sufficient resources and tools to influence other countries, as well as to increase the significance of his words. But I do not think that such actions will be introduced," Chirkov summarized.

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Prior to that, on January 20, economic observer Cyrus Janssen said that the global economy will undergo major changes in 2025 amid the BRICS expansion. The columnist noted that the new states joining the association bring their unique set of resources that could make BRICS "one of the most powerful trade alliances in the world."

BRICS is an interstate association of countries. On the eve of the summit in Kazan, held from October 22 to 24, 2024, 35 applications were received to join the association. On January 1, 2025, Belarus, Bolivia, Kazakhstan, Kazakhstan, Cuba, Malaysia, Thailand, Uganda and Uzbekistan joined the BRICS as partners.