Washington D.C., October 15, 2025 – President Donald Trump escalated his rhetoric against major global economic blocs today, characterizing the BRICS alliance (Brazil, Russia, India, China, and South Africa) as a direct “attack on the U.S. dollar” and simultaneously indicating his administration is actively considering new trade restrictions targeting China.The comments, made during a campaign-style rally in Ohio, signal a potential new phase of aggressive trade policy aimed at dismantling global structures that the administration views as undermining American economic dominance.
BRICS: ‘An Attack on the Dollar’
President Trump focused heavily on the efforts by BRICS nations to increase trade settlements in their local currencies, a process often referred to as “de-dollarization.””We are watching what BRICS is doing very closely,” the President stated. “They are banding together, and their entire goal is to end the supremacy of the U.S. dollar. It is, frankly, an attack on our currency, an attack on our financial system, and an attack on American jobs.”The BRICS bloc has been increasingly vocal about establishing alternative payment systems and reducing reliance on the U.S. dollar for international trade, particularly in energy and commodities. While the move is driven by a desire for financial independence, President Trump framed it as an act of economic aggression against the United States.Analysts note that while the dollar’s dominance remains unchallenged for now, any acceleration of de-dollarization efforts would have significant long-term implications for U.S. monetary policy and global influence.
Consideration of New Tariffs on China
Adding to the tensions, White House officials confirmed that the President is reviewing options to end certain trade ties with China, particularly in relation to key industrial sectors and commodities like cooking oil.While details remain sparse, the discussions reportedly center on imposing new, targeted tariffs or non-tariff barriers designed to protect American industries and address long-standing concerns about unfair trade practices, technology transfer, and intellectual property theft.”We have to protect American manufacturing, and that starts with holding countries like China accountable,” a senior White House trade advisor said off the record. “The President is not afraid to use every tool at his disposal to ensure fair and reciprocal trade.”The threat of new trade restrictions comes at a delicate time for the global economy and could reignite the trade disputes that characterized the President’s previous term. China is a critical supply chain component for countless American businesses, and any abrupt severance of ties could lead to increased costs for consumers.
Global Market Reaction
Following the remarks, global markets showed cautious reactions. The dollar index saw a minor dip on the initial BRICS comments but recovered as the focus shifted to the potential for new tariffs, which often favor the dollar as a safe-haven currency. Stock markets in Asia, particularly in Beijing and Shanghai, saw slight declines amidst the renewed trade uncertainty.The statements clearly indicate that the administration is preparing to intensify its focus on trade and monetary sovereignty in the coming months, setting the stage for potential economic confrontations on the international stage.
