Trump Threatens 10% BRICS Levy
Trump’s post didn’t specify which policies he considers “Anti-American,” nor did it provide details on when any of those tariffs might be imposed.
Washington: US President Donald Trump said he would put an additional 10 per cent tariff on any country aligning themselves with “the Anti-American policies of BRICS”.
“Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff,” Trump said in a Truth Social post on Sunday night. “There will be no exceptions to this policy.” India’s rupee slipped after the threat.
In a joint statement published Sunday, BRICS leaders took a swipe at Trump’s tariffs, saying they “voice serious concerns about the rise of unilateral tariff and non-tariff measures which distort trade and are inconsistent with WTO rules.”
Trump’s post didn’t specify which policies he considers “Anti-American,” nor did it provide details on when any of those tariffs might be imposed.
Trump had previously threatened to slap 100 per cent levies on BRICS if they ditch the US dollar in bilateral trade. The pushback, in turn, has spurred interest in developing local payment systems and other instruments that can facilitate commerce and investment between the nations.
The comments come as the US prepares to send tariff letters to dozens of countries in the coming days, with the Trump administration’s 90-day pause on higher duties set to expire on Wednesday. Trump said in a separate post that the letters would start being delivered from noon Monday, Washington time.