US President Donald Trump has threatened an additional 10% tariff in countries that are based on the “anti-American policy of Brics”.
Trump's announcement, which did not develop a specific policy of BRICS, came when the group's meeting in Rio de Janeiro was underway.
In a joint explanation on Sunday, the leaders of the block seemed to aim at Trump's comprehensive tariff policy, in which he warned of “unjustified one -sided protectionist measures, including the indiscriminate increase in mutual tariffs,”.
Without calling the United States, the leaders expressed “serious concerns regarding the rise of one-sided tariffs and non-tariff measures that distort the trade and are not correct with the WTO rules”, since the “spread of trade restriction measures” to disturb the global economy and to deteriorate the existing economic differences.
“Every country that is based on BRICS's anti-American policy is calculated an additional 10% tariff. There will be no exceptions to this policy,” said Trump in a post-Sunday evening in truth about the social truth.
Trump could have provoked by the common statement by the BRICS leaders who took a thinly veiled blow on his tariff policy, said Stephen Olson, former American retailer and current senior fellow in the Isas-Yusof Ishak Institute.
Through the “anti-American” politics, the president can refer to “the desire of the members of BRICS to go beyond a world order in financial and global governance,” said Olson, adding how this orientation was evaluated, is “anyone suspected”.
This year's BRICS host country, Brazil, did not answer the request from CNBC for comments.
The Brics group of developing countries also offered the shareholding member, the Iran, also symbolic support and condemned a number of military strikes in the country without naming Israel or the United States that carried out military operation.
The block includes Brazil, Russia, India, China, South Africa, Saudi Arabia, Egypt, United Arab Emirates, Ethiopia, Indonesia and Iran. The group describes itself as “a political and diplomatic coordination forum for countries from the global south and for coordination in a wide variety of areas”.
The block tries to question the west-dominated institutions of global economic leadership and to replace the role of the US dollar in the global economy, as the Carnegie Foundation for International Peace shows.
This year, the Chinese President Xi Jinping Premier Li Qiang sent the BRICS meeting in his absence, while Russian President Vladimir Putin, who was exposed to an arrest warrant of the International Criminal Court, visited online.
In response to Trump's threat from an additional service of 10%, a spokesman for the Chinese Ministry of Foreign Affairs said at a regular press conference on Monday that China rejected the use of tariffs as a “instrument for compulsory other”.
“China exposed itself to a tariff war, the trade war,” said the spokesman and added that “the tariffs are not arbitrarily serving the interests of a party.” After translating her comments in Mandarin by CNBC.
Regardless of this, Trump confirmed that the United States will deliver letters on Monday and have described the country -specific tariffs and all agreements with various trading partners. This confirmed the comments from Finance Minister Scott Bessent over the weekend.
The Trump administration has stated that the tariffs announced in April will come into force on August 1st instead of July 9 for countries that have not made an agreement with the USA
Bessent declined the idea that August 1 was another new tariff period. “We say this is when it happens if you want to accelerate things if you want to return to the old tariff that is your choice,” said Bessent on Sunday about CNN's “State of the Union”.
In April Trump announced a 90-day break for the steep tariffs, which he had presented for most trading partners just a few days earlier. This break will run out on Wednesday and the concern between investors and US trading partners will have an impact.
– Erin Doherty and Lim Hui Jie von CNBC contributed to this story.
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