BRICS, Donald Trump and tariff
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President Donald Trump threatened to add a 10% tariff rate on BRICS-aligned countries. The term first applied to 4 countries but the group expanded.
Despite the China-backed initiative making limited progress, dozens of nations are still eager to join.US President Donald Trump is doubling down against the BRICS bloc of fast-growing economies -- including Brazil,
Brazil’s President forcefully rebuked Trump after the U.S. leader called the prosecution of Lula’s predecessor, Bolsonaro, a “witch hunt” and hiked tariffs on the Latin American nation.
The United States' fresh warning came just a day after Trump said he was close to finalising a trade deal with New Delhi.
President Donald Trump said in a Truth Social post that countries aligned with BRICS face an additional 10% tariffs.
1don MSN
Trump also said he doesn't see BRICS as a serious threat but believes the group is trying to weaken the U.S. dollar so another country can replace it as the global standard.
US President Donald Trump on Tuesday reiterated a 10 per cent duty on BRICS nations. He said these countries will "pretty soon" get the duty in place. The POTUS was speaking at a meeting with cabinet officials at the White House.
President Donald Trump revealed new higher tariff rates for more than a dozen countries after hitting Japan and South Korea first earlier in the day.