US President Donald Trump has announced that an additional 10 per cent tariff will be imposed on countries that "align themselves with the anti-American policies of BRICS".
He said this after the BRICS leaders, caught in a trade war initiated by the US, expressed their "grave concern" about the "indiscriminate rise in tariffs".
The declaration was made via Trump’s social media platform, Truth Social, in which the US President stated: “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!”
In a follow-up message, Trump also announced that formal documentation outlining the new tariff policy will be dispatched to the relevant countries starting Monday afternoon:
“I am pleased to announce that the 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! ”
This announcement coincides with the ongoing BRICS summit being held in Rio de Janeiro, Brazil, where leaders and representatives of the expanded bloc have convened to discuss strategic coordination and greater economic integration among developing nations.
“We voice serious concerns about the rise of unilateral tariff and non-tariff measures which distort trade and are inconsistent with WTO (World Trade Organisation) rules," said the joint statement of BRICS leaders, adopted unanimously.
The leaders, however, also criticised the other developed countries that try to impose trade restrictions aimed at developing nations by raising environmental issues while opposing unilateral tariffs that affect them.
“The proliferation of trade-restrictive actions, whether in the form of indiscriminate rising of tariffs and nontariff measures, or protectionism under the guise of environmental objectives, threatens to further reduce global trade, disrupt global supply chains”, the statement said without naming any countries or groups like the European Union.
The BRICS alliance now includes Brazil, Russia, India, China, South Africa, Saudi Arabia, Egypt, the United Arab Emirates, Ethiopia, Indonesia, and Iran.
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