Trump Threatens Additional Tariffs on BRICS Countries Amid Summit in Brazil
US President Donald Trump warns of 10% tariffs for countries aligning with the 'Anti-American policies' of the BRICS group.
At the opening of the BRICS summit in Rio de Janeiro, US President Donald Trump announced that the United States will impose an additional 10 percent tariff on any countries that align themselves with the 'Anti-American policies' of the BRICS group.
The warning came as leaders from Brazil, Russia, India, China, and South Africa gathered for the summit, which is seen as a haven for multilateral diplomacy amid ongoing conflicts and trade wars.
The BRICS nations, which now represent over half of the world's population and 40 percent of its economic output, have expressed concern about the rise in tariffs threatening global trade.
In a joint statement released on Sunday afternoon, they criticized Trump's tariff policies, though they did not explicitly mention him by name.
In response to the warning, Trump stated that there would be no exceptions to this policy and emphasized his intention to punish countries seeking to join the BRICS group.
However, he did not clarify what specific 'Anti-American policies' of the BRICS he was referring to.
The expansion of the BRICS bloc has added diplomatic weight to the gathering, which aims to speak for developing nations across the Global South and advocate for reforms in global institutions such as the UN Security Council and the International Monetary Fund.
With the failure of US-led wars in the Middle East being highlighted by Brazilian President Luiz Inácio Lula da Silva, the group seeks to address these issues through multilateral diplomacy.
Despite the shared goals of the BRICS nations, questions have arisen regarding their ability to work together given their differing economic and political interests.
Nevertheless, several heads of state attended the summit in Rio, including Indian Prime Minister Narendra Modi and South African President Cyril Ramaphosa.
The joint statement from the leaders addressed various international issues, expressing concern over attacks on Iran's civilian infrastructure and peaceful nuclear facilities as well as condemning violence against Palestinians and the people of India-administered Kashmir.
They also voiced support for Ethiopia and Iran to join the World Trade Organization and called for urgent efforts to restore the organization's ability to resolve trade disputes.
In addition, the leaders discussed plans to pilot a BRICS Multilateral Guarantees initiative within the group's New Development Bank, which aims to lower financing costs and boost investment in member states.
They also addressed the use of artificial intelligence, calling for protections against unauthorized use and mechanisms for fair payment.
Brazil, set to host the UN climate summit in November, highlighted the efforts of developing nations in addressing climate change.
In contrast, Trump has slowed down US climate initiatives.
Furthermore, China and the United Arab Emirates signaled their intention to invest in a proposed Tropical Forests Forever Facility to conserve endangered forests around the world.
The warning came as leaders from Brazil, Russia, India, China, and South Africa gathered for the summit, which is seen as a haven for multilateral diplomacy amid ongoing conflicts and trade wars.
The BRICS nations, which now represent over half of the world's population and 40 percent of its economic output, have expressed concern about the rise in tariffs threatening global trade.
In a joint statement released on Sunday afternoon, they criticized Trump's tariff policies, though they did not explicitly mention him by name.
In response to the warning, Trump stated that there would be no exceptions to this policy and emphasized his intention to punish countries seeking to join the BRICS group.
However, he did not clarify what specific 'Anti-American policies' of the BRICS he was referring to.
The expansion of the BRICS bloc has added diplomatic weight to the gathering, which aims to speak for developing nations across the Global South and advocate for reforms in global institutions such as the UN Security Council and the International Monetary Fund.
With the failure of US-led wars in the Middle East being highlighted by Brazilian President Luiz Inácio Lula da Silva, the group seeks to address these issues through multilateral diplomacy.
Despite the shared goals of the BRICS nations, questions have arisen regarding their ability to work together given their differing economic and political interests.
Nevertheless, several heads of state attended the summit in Rio, including Indian Prime Minister Narendra Modi and South African President Cyril Ramaphosa.
The joint statement from the leaders addressed various international issues, expressing concern over attacks on Iran's civilian infrastructure and peaceful nuclear facilities as well as condemning violence against Palestinians and the people of India-administered Kashmir.
They also voiced support for Ethiopia and Iran to join the World Trade Organization and called for urgent efforts to restore the organization's ability to resolve trade disputes.
In addition, the leaders discussed plans to pilot a BRICS Multilateral Guarantees initiative within the group's New Development Bank, which aims to lower financing costs and boost investment in member states.
They also addressed the use of artificial intelligence, calling for protections against unauthorized use and mechanisms for fair payment.
Brazil, set to host the UN climate summit in November, highlighted the efforts of developing nations in addressing climate change.
In contrast, Trump has slowed down US climate initiatives.
Furthermore, China and the United Arab Emirates signaled their intention to invest in a proposed Tropical Forests Forever Facility to conserve endangered forests around the world.
