Trump Threatens 10% Additional Tariff on BRICS Nations’ Anti-American Policies on Trade Taxes
The latest development comes subsequent to the US President’s recent tussle with taxes and tariffs on America’s trade with foreign nations
In a sharp escalation of ongoing global trade disputes, United States’ President Donald Trump has threatened to impose an additional 10 per cent tariff on countries that, according to him, support the “anti-American” policies championed by the BRICS bloc. The announcement comes in the immediate aftermath of a BRICS summit where member nations condemned the United States’ recent...
In a sharp escalation of ongoing global trade disputes, United States’ President Donald Trump has threatened to impose an additional 10 per cent tariff on countries that, according to him, support the “anti-American” policies championed by the BRICS bloc.
The announcement comes in the immediate aftermath of a BRICS summit where member nations condemned the United States’ recent tariff increases as well as the attacks on Iran, very clearly setting the stage for a new round of tensions between the US and the growing economic alliance.
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The BRICS group originally comprising Brazil, Russia, India, China, and South Africa—has significantly expanded in recent years, opening doors to Egypt, Ethiopia, Iran, United Arab Emirates and Indonesia. The latest two-day summit, however, was marked by the absence of China’s President Xi Jinping, attending for the first time since 2012, and Russia’s President Vladimir Putin who joined virtually as he continues to avoid international travel due to an impending arrest warrant issued by the International Criminal Court following Russia’s war with Ukraine.
Despite these absences, the group issued a strongly worded declaration that condemned the increase in tariffs and criticized military actions in the Middle East, with particular reference to US and Israeli actions against Iran. While the declaration refrained from naming President Trump directly and spared Russia from criticism on its offensive against Ukraine, the bloc expressed its growing frustration with what it views as economic and military pressure effectuated by the US.
President Trump did not hold back, taking to Truth Social stating
“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!”
https://truthsocial.com/@realDonaldTrump/posts/114809574296066307
The President did not clarify what specifically constituted “anti-American policies” but made clear that there would be no exceptions under the new rule. Trump also announced that beginning Monday noon, the US would start sending official tariff letters and entering into new deals with countries around the world, signaling the administration’s intent to act swiftly on the new directive.
The reaction from markets was immediate, with equity futures in Europe and the US declining and several major currencies, including the Indian rupee and South African rand, coming under pressure. The move comes at a time when trade barriers are already a contentious issue, with Europe’s finance ministers also calling for stronger protections against Chinese imports, and China itself responding with new curbs on medical-device procurement from the EU.
US Treasury Secretary Scott Bessent indicated that while the policy would be broadly applied, some countries could be given additional time to negotiate or finalize agreements.
As the world awaits further details on how the new tariffs will be implemented and which countries may be affected, the standoff between the US and the BRICS alliance appears to be at a high, with potential ramifications across global markets and supply chains.
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