Amid the ongoing global unrest and chaotic trade deal situations, US President Donald Trump has proposed a 10 percent tariff on all BRICS nations for conducting trade in non-dollar currencies. The move was made by the US president, overlooking Washington`s own economic and geopolitical actions, economic think tank GTRI said on Friday.

India, Brazil, Russia, China, South Africa, Saudi Arabia, Egypt, the United Arab Emirates, Ethiopia, Indonesia, and Iran are the BRICS members. After this announcement from the US President, the global trade spectrum seems to be alarming.

The Global Trade Research Initiative (GTRI) said the US sanctions and SWIFT bans on countries like Russia, Iran, and Venezuela have blocked dollar-based payments, forcing nations like India and China to trade in local currencies with Russia, as per news agency PTI.