BRICS vs. Trump: The New Global Economic Showdown
President Donald Trump has announced a new 10% tariff on countries aligning with BRICS, amid rising global tensions. As BRICS leaders meet in Brazil and call for multilateral diplomacy, concerns about protectionism and global trade disruptions grow. The expanded BRICS bloc now represents a significant share of global population and economic output.
In a bold move, President Donald Trump announced an additional 10% tariff on countries aligning with the BRICS group, during their summit in Brazil. This policy targets nations endorsing "Anti-American policies," potentially escalating global trade tensions.
BRICS leaders, in a joint statement, criticized the rise in tariffs, highlighting their detrimental effects on global trade. The expanded bloc, now including countries like Egypt and the UAE, seeks to strengthen its role in global governance, reflecting dissatisfaction with current international structures.
Key figures including Indonesia's economic minister and Brazilian President Lula emphasized BRICS's role as a voice for the Global South, calling for reforms in global institutions. The summit also addressed various geopolitical concerns, raising questions about the evolving goals of the heterogeneous BRICS collective.
(With inputs from agencies.)
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