President Donald Trump has threatened a 10% tariff on nations aligning with BRICS policies. This declaration was made during a BRICS summit in Rio de Janeiro. The BRICS group raised concerns regarding unilateral tariff measures and the impact on trade. They also condemned military actions in Gaza by the US and Israel, calling for negotiations for a ceasefire. The group is contemplating a cross-border payment system. Previous threats from Trump included a potential 100% tariff on countries moving away from the US dollar as alternative trade discussions rise.
President Donald Trump has issued a new tariff threat. "Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff," Trump wrote in a post on Truth Social on Sunday night. "There will be no exceptions to this policy," he added.
The BRICS group issued a statement expressing serious concerns about the rise of unilateral tariff and non-tariff measures which distort trade and are inconsistent with WTO rules.
We reiterate our grave concern about the situation in the Occupied Palestinian Territory, with the resumption of continuous Israeli attacks against Gaza and obstruction of the entry of humanitarian aid into the territory.
Even so, BRICS nations have been exploring alternatives to the US dollar. De-dollarization discussions accelerated after sweeping sanctions against Russia over its full-scale invasion of Ukraine in February 2022.
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