US-BRICS Trade Relations Amid Tariff Threats: Impact on Global Trade

Explore BRICS trade relations amid Trump BRICS tariff threats. US-BRICS import-export trade data shows $857.56B trade in 2024, up 3% from 2023.

US TRADE INFOGRAPHICS Mar 22, 2025 1 4232 Add to Reading List

US-BRICS Trade Relations Amid Tariff Threats: Impact on Global Trade

In the recent past, trade relations between the United States and BRICS countries (Brazil, Russia, India, China, and South Africa) have been under strain due to the threat of tariffs imposed by the US government. President Donald Trump has threatened to impose 100% tariffs on BRICS nations should they pursue alternatives to the U.S. dollar as a reserve currency. Analysts project that such tariffs could lead to a 90% reduction in U.S.-BRICS trade, significantly affecting both economies.

Recent discussions around the BRICS Trump tariffs trade spat highlight growing tensions between the U.S. and the BRICS nations, Brazil, Russia, India, China, and South Africa, over global trade policies and economic influence. The Trump BRICS tariff debate originated during Donald Trump’s presidency, when his administration imposed tariffs aimed at protecting U.S. industries, which in turn strained relations with several BRICS economies. This trade spat not only affected bilateral trade flows but also pushed BRICS countries to strengthen intra-group cooperation and reduce dependence on Western markets, signaling a potential shift in the global economic balance.

These tariff threats have not only affected the economies of the US and BRICS nations but also had a significant impact on global trade. According to the US import data and the US-BRICS trade data, the total value of US imports from BRICS nations aggregation reached $616.25 billion in 2024, a 3% increase from the previous year. The total value of US exports to BRICS accounted for $241.31 billion in 2024, a 1% increase from the previous year, as per the US export data.

The total trade volume between the US and BRICS aggregation reached $857.56 billion in 2024 including imports and exports, as per the global trade data. In this article, we will delve into the current state of US-BRICS trade relations amid tariff threats and analyze the repercussions on the global trade landscape.

The Landscape of US-BRICS Trade Relations

The United States has historically been a major trading partner for BRICS countries, with each nation exporting goods and services to the US market. However, the imposition of tariffs by the US government on imports from BRICS nations has disrupted this trading relationship. The US has accused countries like China of engaging in unfair trade practices, leading to a trade war between the two economic giants.

Biggest US Imports from BRICS: US-BRICS Top Import Products

The United States imports various products from the BRICS countries – Brazil, Russia, India, China, and South Africa. Among the top import products are electronic equipment, machinery, vehicles, precious metals, and agricultural products. The significant trade relationships between the US and BRICS nations contribute to global economic dynamics. These imports are crucial in meeting consumer demand and fostering international trade partnerships for mutual benefit. The top 10 products that the US imports from BRICS, as per the US-BRICS trade data and US import data for 2024, include:

1. Electrical machinery and equipment (HS code 85): $143.03 billion

2. Nuclear reactors and machinery (HS code 84): $95.42 billion

3. Toys, games, and sports requisites (HS code 95): $32.34 billion

4. Vehicles (HS code 87): $24.13 billion

5. Precious stones and metals (HS code 71): $23.70 billion

6. Plastics and articles thereof (HS code 39): $23.20 billion

7. Furniture, bedding, and mattresses (HS code 94): $22.61 billion

8. Pharmaceutical products (HS code 30): $20.76 billion

9. Articles of iron or steel (HS code 73): $16.38 billion

10. Optical, medical, or surgical instruments (HS code 90): $13.64 billion

Biggest US Exports to BRICS: US-BRICS Top Export Products

The BRICS nations, which consist of Brazil, Russia, India, China, and South Africa, are vital trade partners for the United States. The biggest US exports to the BRICS countries encompass a diverse range of top export products. From machinery and electronics to aircraft and automotive parts, the US bolsters its global presence by exporting a variety of high-quality goods that cater to the specific demands of each BRICS nation. This strategic trade relationship fosters economic growth and strengthens international ties, benefiting both the US and the BRICS countries involved. The top 10 goods that the US exports to BRICS nations, as per the US export data and US shipment data for 2024, include:

1. Mineral fuels and oils (HS code 27): $36.71 billion

2. Aircraft, spacecraft, and parts thereof (HS code 88): $24.80 billion

3. Nuclear reactors and machinery (HS code 84): $23.11 billion

4. Electrical machinery and equipment (HS code 85): $22.38 billion

5. Optical, medical, or surgical instruments (HS code 90): $15.62 billion

6. Oil seeds and oleaginous fruits (HS code 12): $13.47 billion

7. Pharmaceutical products (HS code 30): $12.92 billion

8. Plastics and articles thereof (HS code 39): $12.11 billion

9. Vehicles (HS code 87): $9.16 billion

10. Organic chemicals (HS code 29): $7.45 billion

Overview of US Import-Export Trade with BRICS Nations

US-BRICS Import Trade

US Imports from China (2024): $462.63 billion

Top Imports

Electronics : $127.05 billion (as per import data on US imports from China)
Nuclear reactors and machinery: $85.12 billion
Toys, games, and sports requisites: $32.04 billion
Plastics and articles thereof: $21.52 billion
Furniture, bedding, and mattresses: $20.93 billion

US Imports from India (2024): $91.23 billion

Top Imports

Electrical machinery and equipment: $14.39 billion
Pharmaceutical products: $12.72 billion
Precious stones and metals: $11.88 billion
Nuclear reactors and machinery: $7.10 billion
Organic chemicals: $3.63 billion

US Imports from Brazil (2024): $44.18 billion

Top Imports

Mineral fuels and oils: $8.80 billion (as per import data on US imports from Brazil)
Iron and steel: $4.97 billion
Nuclear reactors and machinery: $2.81 billion
Coffee, tea, and spices: $2.76 billion
Aircraft, spacecraft, and parts thereof: $2.05 billion

US Imports from South Africa (2024): $14.92 billion

Top Imports

Precious stones and metals: $8.57 billion
Vehicles: $2.26 billion
Iron and steel: $518.67 million
Aluminum and articles thereof: $399.79 million
Ores, slag, and ash: $383.13 million

US Imports from Russia (2024): $3.27 billion

Top Imports

Fertilizers: $1.30 billion
Precious stones and metals: $878.43 million
Inorganic chemicals: $695.71 million
Wood and articles of wood: $89.44 million
Nuclear reactors and machinery: $80.81 million

US-BRICS Export Trade

US Exports to China (2024): $143.54 billion

Top Exports

Electrical machinery and equipment: $15.27 billion
Mineral fuels and oils: $14.72 billion
Oil seeds and oleaginous fruits: $13.35 billion
Nuclear reactors and machinery: $12.85 billion
Aircraft, spacecraft, and parts thereof: $11.53 billion

US Exports to Brazil (2024): $49.66 billion

Top Exports

Aircraft, spacecraft, and parts thereof: $9.99 billion
Mineral fuels and oils: $8.56 billion (as per export data for US exports to Brazil)
Nuclear reactors and machinery: $5.86 billion
Electrical machinery and equipment: $4.41 billion
Plastics and articles thereof: $ 3.01 billion

US Exports to India (2024): $41.75 billion

Top Exports

Mineral fuels and oils: $12.60 billion (as per export data on US exports to India)
Precious stones and metals: $5.31 billion
Nuclear reactors and machinery: $3.28 billion
Aircraft, spacecraft, and parts thereof: $2.99 billion
Electrical machinery and equipment: $2.21 billion

US Exports to South Africa (2024): $5.81 billion

Top Exports

Nuclear reactors and machinery: $1.08 billion
Vehicles: $943.77 million
Mineral fuels and oils: $817.88 million
Electrical machinery and equipment: $467.39 million
Optical, medical, or surgical instruments: $278.27 million

US Exports to Russia (2024): $526.06 million

Top Exports

Optical, medical, or surgical instruments: $153.05 million
Pharmaceutical products: $133.40 million
Miscellaneous edible preparations: $72.84 million
Essential oils, perfumery, and cosmetics: $21.74 million
Miscellaneous chemical products: $19 million

US-BRICS Trade in the Last 10 Years: Yearly US Trade Data

US-BRICS Trade

Year of Trade	US Imports from BRICS ($)	US Exports to BRICS ($)
2014	$597.82 billion	$204.83 billion
2015	$603.91 billion	$181.51 billion
2016	$578.41 billion	$177.86 billion
2017	$632.55 billion	$205.02 billion
2018	$681.70 billion	$205.07 billion
2019	$594.41 billion	$194.68 billion
2020	$563.83 billion	$195.42 billion
2021	$696.47 billion	$250.29 billion
2022	$738.01 billion	$262.97 billion
2023	$595.48 billion	$240.48 billion
2024	$616.25 billion	$241.31 billion

Impact of US Tariffs on BRICS Economies

The tariffs imposed by the US have had a significant impact on the economies of BRICS countries. China, for example, has faced a decline in exports to the US due to the tariffs, leading to a slowdown in its economic growth. Similarly, Brazil and India have seen their exports to the US market reduced, affecting their trade balance and overall economic performance.

The USA's Policy on BRICS

In the past, Washington saw BRICS as a dispersed group with little geopolitical influence. President Donald Trump has responded sharply to the group's recent growth and attempts to subvert the US dollar's hegemony, threatening to impose taxes on BRICS countries should they seek de-dollarization. Does this tough posture represent a more significant change in US foreign policy, or is it just a temporary pressure tactic?

A Change in the USA's Perspective on BRICS

From a loose coalition sixteen years ago, the BRICS group—a strategic partnership of developing economies—has evolved into a more cohesive bloc that actively seeks alternatives to the US currency and advocates for reforms in global governance. Biden administration officials have mostly minimized the group's significance. The government did not anticipate BRICS becoming a geopolitical rival, according to National Security Advisor Jake Sullivan in 2023, while Treasury Secretary Janet Yellen characterized shifts away from the currency as a "natural desire to diversify."

Donald Trump disagreed with this strategy and saw BRICS as a danger to US financial dominance. According to Trump, the US demands that these BRICS nations pledge not to develop a new BRICS currency or support any other currency as a substitute for the strong U.S. dollar. If they do, they will be subject to 100% tariffs and will likely have to bid farewell to investing in the amazing U.S. economy.

Global Trade Implications

The trade tensions between the US and BRICS countries have sent shockwaves throughout the global trade landscape. The uncertainty surrounding trade relations has led to a decline in investor confidence, causing fluctuations in stock markets worldwide. Moreover, the disruption in supply chains due to tariffs has affected businesses operating on a global scale, leading to increased production costs and reduced profitability.

Projected Economic Impact of US Tariffs on BRICS

Indicator	Pre-Tariff (2023)	Post-Tariff (2025, Projected)	% Change
US Imports from BRICS ($)	$649 billion	$325 billion	-50%
US Exports to BRICS ($)	$286 billion	$140 billion	-51%
US Inflation Rate (%)	3.4%	5.8%	+70%
BRICS Export Growth (%)	5.0%	1.2%	-76%

Imports from BRICS could be cut in half, leading to higher prices for U.S. consumers.
The cost of electronics, clothing, and pharmaceuticals would rise sharply.
BRICS nations would shift trade to other partners, such as the EU, Middle East, and Africa.

Future Outlook and Way Forward for US-BRICS Trade

As the US-BRICS trade relations continue to be marred by tariff threats, the future outlook remains uncertain. While negotiations are ongoing between the US and its trading partners, the specter of trade wars looms large over the global economy. It is essential for all parties involved to find a mutually beneficial solution to the trade dispute to prevent further escalation and minimize the impact on global trade.

Key Takeaways

The U.S. has proposed 100% tariffs on BRICS nations, which could disrupt trade flows.
BRICS is actively working on alternative payment systems and reducing reliance on Western financial institutions.
Tariffs are expected to increase U.S. inflation while reducing GDP growth.
Imports from China and India remain strong as per Asia trade data, but Russian trade with the U.S. is at historic lows due to sanctions, as per US-Russia trade data.
By diversifying their currencies in trade, BRICS is aggressively fending off threats from U.S. tariffs.
India-Brazil relations are growing, particularly in the fields of renewable energy and pharmaceuticals.
Despite changes in U.S. policy, COP30 will concentrate on achieving climate targets, obtaining money, & promoting global climate action.

Conclusion and Final Thoughts

In conclusion, the current state of US-BRICS trade relations amid tariff threats has created a challenging environment for global trade. The imposition of tariffs by the US government has disrupted longstanding trading relationships and impacted the economies of both the US and BRICS nations. The repercussions of these tariff threats have reverberated throughout the global trade landscape, leading to uncertainty and volatility in financial markets. Moving forward, all parties must work towards a resolution to the trade dispute to ensure a stable and prosperous global trade environment.

As we conclude, we hope that you liked our insightful and interactive blog report on the US-BRICS trade. To learn more about the exclusive market trends in US trade, visit USImportdata. Contact us at info@tradeimex.in and get a list of top US exporting companies.