President Trump threatened to impose a further 10 % tariff on international locations “aligning” themselves with the BRICS bloc of creating nations.
“Any Nation aligning themselves with the Anti-American insurance policies of BRICS, will likely be charged an ADDITIONAL 10% Tariff. There will likely be no exceptions to this coverage. Thanks on your consideration to this matter!” Trump wrote in a Reality Social submit Sunday night.
The risk comes after members of the BRICS group issued a declaration on Sunday condemning the U.S. enhance in tariffs, in addition to the strikes on Iran — all with out mentioning Trump by identify.
The group’s assertion raised “critical considerations” tariffs, saying they’re “inconsistent with WTO (World Commerce Group) guidelines” and threaten to “cut back international commerce, disrupt international provide chains, and introduce uncertainty.”
The group additionally criticized NATO’s resolution to extend protection spending to five % of GDP by 2035 — a choice prompted by Trump’s insistence that Europe shoulder extra of the alliance’s protection burden.
BRICS was based by Brazil, Russia, India, China and South Africa, however the group final yr expanded to incorporate Indonesia, Iran, Egypt, Ethiopia and the United Arab Emirates.
Brazil, which is internet hosting this yr’s two-day summit, has sought to keep away from extra controversial points to keep away from changing into the goal of upper taxes. Trump has threatened to impose one hundred pc tariffs towards the bloc in the event that they take any strikes to undermine the greenback.
Trump’s 90-day pause on his sweeping reciprocal tariffs is ready to run out on July 9. Treasury Secretary Scott Bessent has said the higher tariff rates will likely be imposed on Aug. 1 if international locations don’t strike commerce offers with U.S. sooner.
The Related Press contributed.