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Asharq Al-Awsat
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Trump Calls Musk's Formation of New Party ‘Ridiculous'
US President Donald Trump on Sunday slammed former ally Elon Musk's launching of a new political party as 'ridiculous,' after the tech billionaire said he wanted to challenge the country's 'one-party system.' 'I think it's ridiculous to start a third party,' Trump told reporters before he boarded Air Force One on his way back to Washington from his New Jersey golf club. 'It's always been a two-party system, and I think starting a third party just adds to confusion. Third parties have never worked,' he said. Trump added, 'So he can have fun with it, but I think it's ridiculous.' Musk, the world's richest man, spent some $270 million underwriting Trump's 2024 re-election effort and, for a time, regularly showed up at the president's side in the White House Oval Office and elsewhere. Musk spearheaded the Department of Government Efficiency (DOGE), aimed at cutting government spending, before he pulled back his involvement in late May, saying he would now be allocating far more time to his electric vehicle company Tesla, which reported a huge drop in profit and sales worldwide since the tech tycoon made a brief venture into Trump's inner circle. Shortly after his pull back from DOGE, the two men were exchanging bitter insults on social media after Musk criticized Trump's flagship spending bill. As the bill made its way through Congress, Musk had threatened to form the 'America Party' if 'this insane spending bill passes.' That bill passed the Senate by a narrow margin midday Tuesday. In response, Musk carried out his threat and announced that he is establishing the 'America Party.'
Asharq Al-Awsat
22 minutes ago
- Asharq Al-Awsat
BRICS Group Condemns Increase of Tariffs in Summit Overshadowed by Middle East Tensions
The BRICS bloc of developing nations on Sunday condemned the increase of tariffs and attacks on Iran, but refrained from naming US President Donald Trump. The group's declaration, which also took aim at Israel's military actions in the Middle East, also spared its member Russia from criticism and mentioned war-torn Ukraine just once. The two-day summit was marked by the absences of two of its most powerful members. China's President Xi Jinping did not attend a BRICS summit for the first time since he became his country's leader in 2012. Russian President Vladimir Putin, who spoke via videoconference, continues to mostly avoid traveling abroad due to an international arrest warrant issued after Russia invaded Ukraine. In an indirect swipe at the US, the group's declaration raised 'serious concerns' about the rise of tariffs which it said were 'inconsistent with WTO (World Trade Organization) rules.' The BRICS added that those restrictions 'threaten to reduce global trade, disrupt global supply chains, and introduce uncertainty.' Trump, in a post on his social media platform late Sunday, said any country that aligns itself with what he termed 'the Anti-American policies of BRICS' would be levied an added 10% tariff. Brazil's President Luiz Inácio Lula da Silva, who hosted the summit, criticized NATO's decision to hike military spending by 5% of GDP annually by 2035. That sentiment was later echoed in the group's declaration. 'It is always easier to invest in war than in peace,' Lula said at the opening of the summit, which is scheduled to continue on Monday. Iran in attendance Iranian President Masoud Pezeshkian, who was expected to attend the summit before the attacks on his country in June, sent his foreign minister Abbas Araghchi to the meeting in Rio. The group's declaration criticized the attacks on Iran without mentioning the US or Israel, the two nations that conducted them. In his speech, Araghchi told leaders he had pushed for every member of the United Nations to condemn Israel strongly. He added Israel and the US should be accountable for rights violations. The Iranian foreign minister said the aftermath of the war 'will not be limited' to one country. 'The entire region and beyond will be damaged,' Araghchi said. BRICS leaders expressed 'grave concern' for the humanitarian situation in Gaza, called for the release of all hostages, a return to the negotiating table and reaffirmed their commitment to the two-state solution. Later, Iran's Araghchi said in a separate statement on messaging app Telegram that his government had expressed its reservation regarding a two-state solution in a note, saying it will not work 'just as it has not worked in the past.' Also on Telegram, Russia's foreign ministry in another statement named the US and Israel, and condemned the 'unprovoked military strikes' against Iran. Russia spared The group's 31-page declaration mentions Ukraine just once, while condemning 'in the strongest terms' recent Ukrainian attacks on Russia. 'We recall our national positions concerning the conflict in Ukraine as expressed in the appropriate fora, including the UN Security Council and the UN General Assembly,' the group said. Avoid Trump's tariffs While Lula advocated on Sunday for the reform of Western-led global institutions, Brazil aimed to avoid becoming the target of higher tariffs. 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 US-dominated payment systems which would allow it to dodge Western sanctions imposed after Russia's invasion of Ukraine in February 2022 Brazil decided to focus on less controversial issues in the summit, such as promoting trade relations between members and global health, after Trump returned to the White House, said Ana Garcia, a professor at the Rio de Janeiro Federal Rural University. 'Brazil wants the least amount of damage possible and to avoid drawing the attention of the Trump administration to prevent any type of risk to the Brazilian economy,' Garcia said. 'Best opportunity for emerging countries' BRICS was founded by Brazil, Russia, India, China and South Africa, but the group last year expanded to include Indonesia, Iran, Egypt, Ethiopia, and the United Arab Emirates. As well as new members, the bloc has 10 strategic partner countries, a category created at last year's summit that includes Belarus, Cuba and Vietnam. That rapid expansion led Brazil to put housekeeping issues — officially termed institutional development — on the agenda to better integrate new members and boost internal cohesion. Despite notable absences, the summit is important for attendees, especially in the context of instability provoked by Trump's tariff wars, said Bruce Scheidl, a researcher at the University of Sao Paulo's BRICS study group. 'The summit offers the best opportunity for emerging countries to respond, in the sense of seeking alternatives and diversifying their economic partnerships,' Scheidl said. The meeting was also an opportunity to advance climate negotiations and commitments on protecting the environment before November's COP 30 climate talks in the Amazonian city of Belem.
Arab News
3 hours ago
- Arab News
Trump says alignment with BRICS' ‘anti-American policies' to invite additional 10 percent tariffs
US President Donald Trump on Sunday said that countries aligning themselves with the 'Anti-American policies' of BRICS, will be charged an additional 10 percent tariff. 'Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10 percent 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. Trump did not clarify or expand on the 'Anti-American policies' reference in his post. The original BRICS group gathered 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, Saudi Arabia and the United Arab Emirates and Indonesia as members. Trump also said that he would start sending other countries the first letters on tariffs and trade deals on Monday, ahead of a deadline for the paused levies to take effect. 'I am pleased to announce that the UNITED STATES TARIFF Letters, and/or Deals, with various Countries from around the World, will be delivered starting 12:00 P.M. (Eastern), Monday, July 7th,' Trump said on his Truth Social network.
