Trump threatens BRICS-aligned countries with additional tariffs of 10%
"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," Trump wrote on his Truth Social social media platform.
The threat came after reports BRICS leaders attending a two-day summit in Rio de Janeiro issued a formal statement apparently criticizing the United States' tariff stance.
The 11-country intergovernmental grouping, with Saudi Arabia and Iran as its newest members, expressed "serious concerns" over the impact of unilateral tariffs and non-tariff measures on trade and called for a return to the three-decades-old World Trade Organization multilateral trading system.
"The proliferation of trade-restrictive actions, whether in the form of indiscriminate rising of tariffs and non-tariff measures, or protectionism under the guise of environmental objectives, threatens to further reduce global trade, disrupt global supply chains, and introduce uncertainty into international economic and trade activities, potentially exacerbating existing economic disparities and affecting prospects for global economic development," it said in a statement.
"We voice serious concerns about the rise of unilateral tariff and non-tariff measures which distort trade and are inconsistent with WTO rules. We emphasize that the WTO, at its 30th anniversary, remains the only multilateral institution with the necessary mandate, expertise, universal reach and capacity to lead on the multiple dimensions of international trade discussions, including the negotiation of new trade rules," said the statement.
The BRICS Organization counts U.S. allies such as Saudi Arabia and the United Arab Emirates among its members.
Beijing criticized Trump's proposed extra tariffs, saying arbitrary tariff hikes should not be applied as a negotiation method and insisting that the BRICS statement was not aimed at any specific country
"BRICS is a positive force in the world. It advocates openness, inclusiveness and win-win cooperation. It does not target any country. We oppose trade wars and tariff wars. Tariffs should not be used as a tool for coercion and pressuring. Arbitrary tariff hikes serve no one's interest," Foreign Ministry spokesperson Mao Ning said at her regular Monday briefing.
Trump's warning followed a post in which he said letters setting out tariffs to be applied, or confirming deals where these had been agreed, would be sent out at noon on Monday, two days ahead of the expiry of a temporary pause on the imposition of his so-called Liberation Day reciprocal tariffs unveiled April 2.
Stephen Olson, former U.S. trade negotiator and current visiting senior fellow at Singapore's ISEAS-Yusof Ishak Institute, told CNBC that Trump's threat could have been triggered by the BRICS statement, despite the fact it doesn't specifically point the finger at the United States.
"Anti-American" could be a reference to the stated preference of BRICS countries to strike out on their own from the U.S.-led world order in matters of finance and global governance, Olsen explained, but added that establishing which countries supported BRICS policies would be very tricky.
Russian President Vladimir Putin attended virtually, possibly because he is the subject of an arrest warrant issued by the International Criminal Court to which Brazil is a signatory, while Chinese President Xi Jinping dispatched his deputy, Premier Li Qiang in his place.
The Guardian said the non-attendance of the leaders of the two founding BRICS countries was significant and signaled Russian and China's commitment to the grouping as an ideological alternative to the G7 had peaked, with recent expansion from five to 11 countries undermining its value to them.
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