Trump's 10% Tariff Warning to BRICS Nations Spurs Trade Tensions
US President Donald Trump warns BRICS of an additional 10% tariff on goods, alleging attempts to weaken the dollar. With new tariffs set for August, negotiations continue while bilateral trade deals with India loom. Trump emphasizes on maintaining US dollar supremacy and fair trade practices.
- Country:
- United States
In a bold move that could reshape international trade dynamics, US President Donald Trump has issued a stark warning to the BRICS nations, threatening a 10% tariff on their goods. Trump claims that the bloc, which includes Brazil, Russia, India, China, and South Africa, aims to undermine the US dollar.
Amid ongoing negotiations, Trump reiterated that the US dollar remains paramount, as his administration pushes for new trade agreements. The proposed tariffs, effective August 1, seek to reinforce economic fairness, with Trump stating that prior administrations failed to uphold American standards.
With trade talks with India advancing, potentially excluding agriculture and dairy sectors, the US aims for increased bilateral trade and closer ties in defense and technology. Despite Trump's stern stance, he remains open to fair negotiations, provided they result in equitable trade relationships.
(With inputs from agencies.)
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