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Tariffs

US President Trump Threatens Additional Tariffs on BRICS Member Countries

Strategic Insights

— 1 min read

US President Donald Trump has threatened to impose a 10% additional tariff on any country that aligns with the "anti-American policies" of the BRICS group, comprising Brazil, Russia, India, China, and South Africa. This move comes just hours after the BRICS leaders met in Rio de Janeiro and issued a statement warning against the rise in tariffs and their impact on global trade. The BRICS coalition, founded in 2009, has grown to include nations representing more than half of the world's population and 40% of its economic output.

Key Takeaways:

  • The US President's tweet announcing the additional tariff did not specify what he meant by "anti-American policies".
  • The Trump administration is nearing the deadline to finalize trade deals with various countries, with significant retaliatory tariffs to be imposed on July 9.
  • BRICS nations, comprising over half of the world's population and 40% of its economic output, have been warned by their own leaders about rising protectionism.
  • The BRICS leaders drew a parallel with the Cold War's Non-Aligned Movement, emphasizing their multilateral and autonomous stance in a polarized global order.
  • China and South Africa have responded to US President Trump's tweet, with China opposing the use of tariffs as a coercion tool and South Africa asserting its commitment to a trade deal with the US.
  • India and Brazil, two of the major BRICS countries, have not commented on the US President's threat.

Statistics:

  • 10%: the additional tariff threatened by US President Donald Trump on countries aligning with BRICS "anti-American policies".
  • 9 July: the deadline set by the Trump administration for finalizing trade deals with various countries, after which significant retaliatory tariffs will be imposed.
  • 40%: the share of global economic output accounted for by BRICS nations
  • 50%: the proportion of the world's population represented by BRICS nations
  • 2009: the year the BRICS group was founded
  • 9: the number of countries invited by BRICS as "partner countries"

Sources:

  • The post by US President Donald Trump on Truth Social
  • Remarks by Brazil's President Luiz Inacio Lula da Silva at the summit
  • Statement by the Chinese foreign ministry in response to Trump's tweet
  • Interview with South Africa's trade ministry spokesperson Kaamil Alli (extracted from Reuters)

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