President Donald Trump announced Sunday that nations aligning with the BRICS alliance policies opposing US interests will face an additional 10% tariff, with no exceptions to the policy.
Trump made the announcement on his Truth Social platform following criticism from BRICS members regarding his tariff policies and their proposals for International Monetary Fund reforms and currency valuation changes.
The BRICS alliance, originally comprising Brazil, Russia, India, China, and South Africa, expanded in recent years to include Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia, and the United Arab Emirates. The bloc represents more than half of the world’s population and was designed to enhance member nations’ international standing and challenge US and Western European influence.
BRICS leaders convened in Rio de Janeiro, Brazil, this weekend to discuss reforms to global institutions and position the alliance as a diplomatic platform amid increasing trade conflicts and geopolitical tensions.
Finance ministers from BRICS nations issued a joint statement Sunday criticizing tariffs as threats to the global economy, stating they bring “uncertainty into international economic and trade activities.”
The leaders also condemned military strikes on Iran in June, characterizing the attacks as violations of international law. Since June 13, both Israel and the US have targeted Iranian facilities, including nuclear installations.
The summit featured in-person attendance from world leaders, including Indian Prime Minister Narendra Modi and South African President Cyril Ramaphosa. Chinese President Xi Jinping was absent for the first time, with Premier Li Qiang representing China. Russian President Vladimir Putin, who faces an International Criminal Court arrest warrant over alleged war crimes in Ukraine, participated online.
In 2024, Trump had previously threatened 100% tariffs on BRICS countries if they proceeded with developing their own currency to compete with the US dollar.
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Trump Announces Additional 10% Tariff on Countries Supporting BRICS Policies
President Donald Trump announced Sunday that nations aligning with the BRICS alliance policies opposing US interests will face an additional 10% tariff, with no exceptions to the policy. Trump made the announcement on his Truth Social platform following criticism from BRICS members regarding his tariff policies and their proposals for International Monetary Fund reforms and currency valuation changes. The BRICS alliance, originally comprising Brazil, Russia, India, China, and South Africa, expanded in recent years to include Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia, and the United Arab Emirates. The bloc represents more than half of the world's population and was designed to enhance member nations' international standing and challenge US and Western European influence. BRICS leaders convened in Rio de Janeiro, Brazil, this weekend to discuss reforms to global institutions and position the alliance as a diplomatic platform amid increasing trade […]
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President Donald Trump has threatened to impose an additional 10% tariff on countries that align with BRICS alliance policies opposing US interests. Trump has consistently criticized BRICS, an organization including China, Russia, and India, designed to enhance member countries' international standing and challenge US and Western European influence. "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 posted on social media. Originally set for July 9, the deadline for countries to negotiate tariff agreements with the US has been extended to August 1, according to US officials. The US has secured trade agreements only with the UK and Vietnam so far. However, Britain and America remain deadlocked over taxes on UK steel imports to the US. Since January, Trump has announced multiple import […]
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