'Any country aligning themselves...': Trump's BIG tariff threat to BRICS countries for 'anti-American policy': Here's what he said
&imwidth=600&imheight=450&format=webp&quality=medium "'Any country aligning themselves...': Trump's BIG tariff threat to BRICS countries for 'anti-American policy': Here's what he said")
US President Donald Trump and BRICS 2024 summit Photograph: (Reuters)
United States President Donald Trump did not elaborate on his reference to anti-American policies in BRICS but threatened tariffs on countries aligning with BRICS policies unless they negotiate by August 1.
United States President Donald Trump has issued a warning to countries aligning with BRICS saying that they would be charged an additional 10 percent tariff. He termed the BRICS group follows an "Anti-American policy." The US President did not clarify or expand on the “anti-American policies” reference. His post came after he announced that the first set of tariff letters, including trade deals, would be sent to several countries, starting Monday (July 7). Notably, the BRICS Summit is currently underway in Brazil and in their declaration they did not name Trump but expressed concerns over tariffs.
"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. Thank you for your attention to this matter!" Trump said in a post on Truth Social.
The BRICS bloc of developing nations condemned the increase in tariffs and attacks on Iran, but refrained from naming Donald Trump. BRICS initially included India, Brazil, China, Russia and South Africa, among other countries. Last year, Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the United Arab Emirates and Indonesia were added as members of the group. In the summit that is underway in Brazil, the two-day summit was marked by the absence of two of its most powerful members - China’s President Xi Jinping and Russian President Vladimir Putin. 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 had earlier, on April 2, announced 'Liberation Day' and imposed reciprocal tariffs on all countries. He had later announced a 90-day pause to the tariffs. His 90-day period is getting over on Wednesday and Trump's Treasury Secretary Scott Bessent said that it April 2 tariffs will take effect from August 1. “If you don’t move things along, then on August 1 you will boomerang back to your April 2 tariff level,” Bessent said to CNN.
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A reciprocal tariff is a tax or trade restriction that one country places on another in response to similar actions taken by that country. Trump added that letters will continue to go out on Tuesday and Wednesday. “We’ll have most countries done by July 9 — either a letter or a deal,” he said. “The president is right in the midst of discussing all sorts of deals with all sorts of countries,” Commerce Secretary Howard Lutnick told reporters Sunday alongside Trump. India and the US began talks on a bilateral trade agreement in February this year with Trump hinting that a major trade deal with India would be announced soon.
