Trump warns nations cooperating with BRICS with tariffs
(MENAFN) US President Donald Trump has warned that any nation engaging in trade with the BRICS economic bloc will face an extra 10% tariff, with “no exceptions,” accusing the group of pursuing “anti-American policies,” according to statements made on social media.
This announcement came shortly after BRICS leaders wrapped up their summit in Rio de Janeiro. In their joint statement, the bloc condemned unilateral tariff impositions and denounced what they called “indiscriminate” trade restrictions, though they did not directly name the United States.
Trump posted on Truth Social on Sunday: “Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy.”
This latest threat recalls Trump’s even sterner comments from February, when he warned BRICS members they could face tariffs as high as 100%. Back then, he stated that BRICS would be “dead” if it created a common currency or challenged the dominance of the US dollar in global markets.
BRICS, initially established in 2006 by Brazil, Russia, India, and China, has since grown to include South Africa, Egypt, Iran, Ethiopia, the United Arab Emirates, and Indonesia. At last year’s summit in Kazan, Russia, the group introduced a ‘partner country’ status to accommodate the more than 30 nations expressing interest in joining.
During Sunday’s summit, Russian President Vladimir Putin highlighted that BRICS’ combined GDP, when measured by purchasing power parity, has now overtaken the G7. The group accounts for nearly half of the world’s population and around 40% of global economic output.
Since resuming office in January, Trump has focused on a tariff strategy intended to shield American manufacturers. This campaign culminated on April 2, referred to by Trump as ‘Liberation Day,’ when he imposed broad tariffs of 10% and up to 70% on countries he accused of treating the US “unfairly.”
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
