Brics, Trump and tariff
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The BRICS bloc is made up of 11 nations, with Brazil, Russia, India, China, and South Africa making up the core group. The bloc has drawn Trump's ire before.
President Donald Trump has threatened new tariffs on any nation supporting “anti-American” policies of the BRICS group of emerging economies, as he announced tariff letters would be sent out to scores of countries from Monday,
President Donald Trump threatened to add a 10% tariff rate on BRICS-aligned countries. The term first applied to 4 countries but the group expanded.
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Inquisitr on MSNDonald Trump’s 10% Tariff Threat on BRICS Nations Could Spark Global Economic Chaos—But Is It Just a Bluff?President Donald Trump proposed a new 10% tariff on any product from countries that are part of the BRICS bloc, chucking a fiery new grenade into the global economy as the July 9 trade deadline moves closer.
Trump's announcement follows BRICS' expression of serious concerns regarding unilateral tariffs and trade measures, which they believe contradict World Trade Organization rules.
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Trump confirmed the U.S. will start delivering letters on Monday, detailing tariff rates and any agreements reached with various trading partners.