Trump threatens new tariffs on nations backing BRICS alliance
Photo: Donald Trump, 47th President of the United States of America (Getty Images)
President of the United States of America Donald Trump threatened additional tariffs on countries that support BRICS policies after the organization's recent summit, according to his post on Truth Social.
Criticism from BRICS
According to Deutsche Welle, on July 6, in the declaration of the BRICS summit held in Rio de Janeiro, "serious concern was expressed over the growing number of unilateral tariff and non-tariff measures that distort trade and are inconsistent with WTO rules."
According to the report, these measures "threaten to further reduce global trade and disrupt global supply chains," which could negatively impact the prospects for global economic development.
Even though the document did not directly mention the United States or Trump, as media outlets write, "this is a clear political salvo aimed at the resident of 1600 Pennsylvania Avenue."
Trump's reaction
"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!" the US President wrote.
Trump's tariff policy
On April 2, Trump announced large-scale tariffs against most of the US trading partners. The tariffs provided for a 10% base rate, but for some countries, tariffs reached 50%.
Eventually, the American leader suspended this decision for 90 days - until July 9 - to allow time for negotiations on concluding agreements. At the same time, the base tariff of 10% remained in effect.
Recently, the Head of the White House also stated that he is not considering the possibility of extending the tariff pause.
