The Elon Shock

All of Elon Musk's strange behavior in recent times is starting to make sense. His feuds with other leading technologists like Sam Altman and Bill Gates has all been building up to what he's been planning in Washington. It's a fascinating new financial story that some say could change life in America forever.

Trump mistakes Spain for a member of the BRICS bloc and repeats the threat of massive tariffs

JOSEPH WILSON
January 21, 2025

BARCELONA, Spain (AP) -- U.S. President Donald Trump has apparently confused Spain for a member of the BRICS bloc of developing economies, causing some head-scratching and jitters over possible tariffs in Madrid.

Spain is not in BRICS, whose initials stand for Brazil, Russia, India, China and South Africa. Spain is a member of NATO, along with the U.S., and of the European Union.

Trump erroneously said Spain was in BRICS when a journalist asked him about NATO countries like Spain which don't meet the NATO minimum of spending 2% of economic output on defense. Spain ranked last in the 32-nation military alliance, estimated to spend 1.28% on defense last year.

Trump started his answer by saying "Spain is very low," referring to its defense expenditures, but quickly veered into speaking about the BRICS.

"They're a BRICS nation, Spain. Do you know what a BRICS nation is? You'll figure it out," he told the reporter from the presidential desk in the Oval Office.

Trump repeated his threat to put costly tariffs on BRICS, saying "we are going to put at least a 100% tariff on the business they do with the United States," part of his economic plans that would overturn decades of free trade consensus.

Spanish Education Minister Pilar Alegría, who acts as a spokeswoman for the government, said she wasn't sure why Trump made the comment.

"I don't know if the affirmation made by President Trump was the result of a mix-up or not, but I can confirm that Spain is not in BRICS," Alegría told reporters Tuesday.

Spain has been a committed member of NATO for the past four decades, she added, and the Spanish government considers the U.S. "a natural ally."

Spain is one of eight countries that failed to meet NATO's 2% spending target last year. Trump has said he wants NATO members to reach 5% spending on defense.

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