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

Indonesia’s senior economic minister, Airlangga Hartarto, is in Brazil for the BRICS summit and is scheduled to go to the U.S. on Monday to oversee tariff talks, an official told Reuters. India’s foreign ministry did not immediately respond to a request for comment.