Trump threatens to slap 10 pec additional tariffs on BRICS countries for ‘Anti American' policies
"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 said on Truth Social.
The international multilateral bloc which was founded by Brazil, Russia, India, China, and South Africa as an alternative platform to challenge Western hegemony and promote the voices of developing countries, has long been criticised by the US President.
BRICS has been viewed as a favourable bloc by many countries who have expressed their wish to join, and last year expanded to include Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the United Arab Emirates, with Vietnam becoming a partner nation this year.
Trump's comments came the bloc's members criticised the US tariff policies as well as proposing reforms to the International Monetary Fund (IMF) and how major currencies are valued, reports BBC.
BRICS countries, who started a meeting in Rio de Janeiro this weekend, have called for reforms to global institutions and positioned the alliance as a platform for diplomacy amid escalating trade conflicts and geopolitical tensions.
A joint statement by the bloc's Finance Ministers slammed the tariffs, labelling them as a threat to the global economy, and accused it of bringing "uncertainty into international economic and trade activities".
The leaders also condemned the military strikes on Iran in June, criticising the attacks as a violation of international law.
The summit was attended in person by world leaders, including Prime Minister Narendra Modi and South African President Cyril Ramaphosa. Russian President Vladmir Putin attended it online, while China was represented by Premier Li Qiang who stood in President Xi Jinping.
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