President Donald Trump threatened to impose an additional ten percent tariff on countries aligned with BRICS initiatives.
Trump wrote on Truth Social that “UNITED STATES TARIFF Letters, and/or Deals, with various Countries from around the World, will be delivered starting 12:00 P.M. (Eastern), Monday, July 7th. Thank you for your attention to this matter! DONALD J. TRUMP, President of The United States of America.”
In a subsequent post, Trump noted, “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!”
BRICS includes Brazil, Russia, India, China, South Africa, Egypt, the United Arab Emirates, Ethiopia, Indonesia, and Iran.
In a July 6 statement, BRICS leaders said that the “proliferation of trade-restrictive actions, whether in the form of indiscriminate rising of tariffs and non-tariff measures, or protectionism under the guise of environmental objectives,” threatens to “further reduce global trade, disrupt global supply chains, and introduce uncertainty into international economic and trade activities, potentially exacerbating existing economic disparities and affecting prospects for global economic development.”
“We voice serious concerns about the rise of unilateral tariff and non-tariff measures which distort trade and are inconsistent with WTO rules,” the statement added. “In this context, we reiterate our support for the rules-based, open, transparent, fair, inclusive, equitable, non-discriminatory, consensus-based multilateral trading system with the World Trade Organization (WTO) at its core, with special and differential treatment (S&DT) for its developing members.”
Mao Ning, a spokeswoman for the Chinese Foreign Ministry, said during a press briefing that “BRICS is an important platform for cooperation among emerging markets in developing countries,” adding, “On the U.S. tariff hikes, China has made its position clear more than once. Trade wars and tariff wars have no winners, and protectionism leads nowhere.”
