After Brazil Summit, Trump 10% Tariff for BRICS Countries - Alliance of Developing Countries Criticizes Trump's Trade Tariffs
President Donald Trump threatened an additional 10% tariff on any country that complies with the "anti-American" policies of the BRICS group. The alliance of developing countries has repeatedly criticized Trump's trade tariffs.
President Donald Trump said the United States would impose an additional 10% tariff on any country that complies with the "anti-American policies" of the BRICS group, whose leaders are gathering at a summit in Brazil.
With forums such as the G7 and G20 groups of major economies hampered by the US president's destructive "America First" approach, BRICS is presenting itself as a haven for multilateral diplomacy amidst conflicts and trade wars.
In a joint statement at the opening of the BRICS summit in Rio de Janeiro, the group warned that rising tariffs threatened global trade, continuing its criticism of Trump's policies. Hours later, the US president warned that he would punish countries that seek to join the group.
"Any country that complies with the anti-American policies of the BRICS will have an additional 10% tariff. There will be no exceptions to this policy. Thank you for your attention to this matter!" Trump said in a post on Truth Social.
The US administration is seeking to finalize dozens of trade deals with a wide range of countries before a July 9 deadline for imposing significant "retaliatory tariffs."
The original BRICS group brought together leaders from Brazil, Russia, India and China at its first summit in 2009. The bloc later added South Africa and last year included Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates as members.
BRICS countries now represent more than half of the world's population and 40% of its economic output, Brazilian President Luiz Inacio Lula da Silva noted in his speech to business leaders.
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