Trump Threatens Tariffs Amidst BRICS Negotiations
The Trump administration will postpone a 10% tariff on BRICS nations but may impose it if anti-American policies are continued. The announcement comes amidst negotiations with countries like India, which rely significantly on U.S. trade. BRICS leaders have expressed concerns about U.S. tariffs impacting global trade.
The Trump administration has held off on imposing a new 10% tariff on BRICS countries, planning instead to execute it if these nations engage in what's deemed 'anti-American' policies. President Donald Trump announced the potential tariffs via his Truth Social platform, leading to a swift response from BRICS members, who rejected claims of any anti-American alignment.
Negotiations between the United States and members of the BRICS bloc, including key players like India and Indonesia, are intensifying as deadlines loom. A tariff hike slated for July 9 has been deferred to August 1, providing a narrow window for last-minute trade agreements. Many countries within BRICS are heavily reliant on trade with the U.S., adding pressure to these discussions.
This development coincides with a BRICS summit statement condemning certain geopolitical actions and calling for global institutional reforms. Despite these tensions, South Africa and others insist their relations with the U.S. remain positive, with Indonesia actively working to mitigate potential tariff impacts through trade concessions.
(With inputs from agencies.)
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