Trump has threatened to impose 100% tariffs against the bloc if they take any moves to undermine the dollar. Last year, at the summit hosted by Russia in Kazan, the Kremlin sought to develop alternatives to U.S.-dominated payment systems which would allow it to dodge Western sanctions imposed after Russia's invasion of Ukraine in February 2022

Brazil is playing host to a summit of the BRICS bloc of developing economies Sunday and Monday during which pressing topics like Israel's attack on Iran, the humanitarian crisis in Gaza and trade tariffs imposed by U.