On Monday, US President Donald Trump threatenedan additional 10% tariff on any nation supporting what he labeled the“anti-American policies” of BRICS, as the group wrapped up its annual summit inBrazil.
His threat followed a BRICS joint statementin Rio de Janeiro reaffirming their commitment to a rules-based, transparent,and non-discriminatory multilateral trading system centered on the World TradeOrganization.
Trump had already announced sweepingtariff hikes in April, ranging from 10% to 50% on nations running tradesurpluses with the US. Those measures were paused for negotiations, with afinal deadline set for July 9.
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