"Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10-per cent Tariffs," Trump said in a post on Truth Social.
“There will be no exceptions to this policy. Thank you for your attention to this matter,” he added.
Leaders of the BRICS grouping yesterday termed Trump’s sweeping import tariffs ‘indiscriminate” and a threat to global economic stability.
“We voice serious concerns about the rise of unilateral tariff and non-tariff measures which distort trade and are inconsistent with WTO [World Trade Organization] rules,” a joint statement released by BRICS after their summit in Rio de Janeiro said.
The expanded BRICS group—comprising Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the United Arab Emirates—now represents nearly half the global population and around 40 per cent of the world’s gross domestic product.
The summit communiqué described such tariffs as ‘illegal and arbitrary’, warning they could “further reduce global trade, disrupt global supply chains, and introduce uncertainty into international economic and trade activities.”
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