South African financial experts have raised concerns that former U.S. President Donald Trump’s proposed tariffs on BRICS countries are less about trade protection and more about curbing China’s growing global influence.
Last week, Trump revealed plans to impose a 10% import tariff on goods from BRICS nations—Brazil, Russia, India, China, and South Africa—as well as a 50% levy on copper and a potential 200% duty on imported pharmaceuticals.
Analysts say these moves are linked to Trump’s attempts to shield the U.S. dollar’s dominance, which he believes is under threat from the BRICS coalition’s growing push to establish an alternative reserve currency. The BRICS+ bloc now comprises nearly 43% of the world’s population and accounts for about 35% of global GDP and 20% of international exports.
Economic and political observers interpret Trump’s posture not simply as a trade tactic but as a strategic defense against what he sees as a challenge to American global leadership—particularly from China. His rhetoric signals that he views BRICS as more than an economic pact; he sees it as a geopolitical instrument that could bolster China’s ambitions.
Experts Say China Is the Real Focus
Deon Gouws, Chief Investment Officer at Credo Wealth, stated that while Trump may mention BRICS broadly, his real focus is China, which he views as the only serious contender to U.S. supremacy.
“Although the combined GDP of BRICS rivals that of the United States, China alone contributes over two-thirds of that total,” Gouws explained. “So, when Trump lashes out at BRICS, he’s really targeting China—and by extension, any allies that could strengthen China’s position.”
Gouws noted that China’s robust economic engine, innovative capacity, and adaptable workforce make it a formidable global competitor, which explains Trump’s aggressive stance.
Currency Dominance at the Core
Luncedo Mtwentwe, Managing Director at Vantage Advisory, echoed similar views. He argued that Trump’s actions reflect a broader concern that BRICS is actively working to weaken the U.S. dollar’s global role. According to Mtwentwe, Trump fears that if the BRICS bloc successfully challenges the dollar, U.S. economic leadership could erode.
“With countries like China and Russia leading the charge, Trump sees the move away from the dollar as a direct threat to American influence,” Mtwentwe said. “Imposing tariffs is his way of countering that momentum.”
He added that if countries move toward using their own currencies or a BRICS-backed system for global trade, China would likely emerge as the primary beneficiary—something Trump is determined to prevent.
High Stakes for BRICS Members
Mtwentwe warned that retaliating against the U.S. could come at a steep price for BRICS nations, especially in the short term. “Trade wars with the world’s largest economy could fuel inflation and job losses in many emerging markets,” he noted. “While resisting U.S. pressure may pay off in the long run, the immediate economic fallout could be significant.”
To counter such risks, Mtwentwe emphasized the need for BRICS nations to deepen cooperation and develop resilient trade strategies.
“It’s essential to strengthen intra-BRICS trade, boost manufacturing capacity—especially in countries like South Africa—and make the most of the African Continental Free Trade Area (AfCFTA),” he said. “This is the path to long-term competitiveness and economic independence.”
ALSO READ : Commissioner Nyathi Warns Rogue Police Officers Against Betting in Uniform
