President Donald Trump has again warned that he will impose 100% tariffs against countries of the BRICS bloc, of which India is a part, if they take any steps to replace the U.S. dollar.

Trump’s sharp stance aims to counteract the bloc’s de-dollarisation agenda, which he sees as a direct challenge to US economic hegemony.

Despite the threat of a trade war with the U.S., economists and analysts tell CNBC that this will not stop BRICS from expanding.

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.

Donald Trump said that the BRICS does not have a leverage on the United States, instead Washington holds a barrel over them.

President Trump warned BRICS nations that they face 100 per cent tariffs on trade with the US if they continue de-dollarization efforts. Trump insisted America has leverage over BRICS.