Trade tensions flare as Trump targets BRICS with additional tariff threat
President Donald Trump said the U.S. will impose an additional 10% tariff on any countries aligning themselves with the “Anti-American policies” of the BRICS group of developing nations, whose leaders kicked off a summit in Brazil on Sunday.
With forums such as the G7 and G20 groups of major economies hamstrung by divisions and the disruptive “America First” approach of the U.S. president, the BRICS is presenting itself as a haven for multilateral diplomacy amid violent conflicts and trade wars.
In a joint statement from the opening of the BRICS summit in Rio de Janeiro released on Sunday afternoon, the group warned the rise in tariffs threatened global trade, continuing its veiled criticism of Trump’s tariff policies.
Hours later, Trump warned he would punish countries seeking to join with the grouping.
“Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy. Thank you for your attention to this matter!” Trump said in a post on Truth Social.
Trump did not clarify or expand on the “Anti-American policies” reference in his post.
Trump’s administration is seeking to finalize dozens of trade deals with a wide range of countries before his July 9 deadline for the imposition of significant “retaliatory tariffs”.
In opening remarks to the summit earlier, Brazil’s President Luiz Inacio Lula da Silva drew a parallel with the Cold War’s Non-Aligned Movement, a group of developing nations that resisted joining either side of a polarized global order.
“BRICS is the heir to the Non-Aligned Movement,” Lula told leaders. “With multilateralism under attack, our autonomy is in check once again.”
BRICS nations now represent more than half the world’s population and 40% of its economic output, Lula noted in remarks on Saturday to business leaders, warning of rising protectionism.
“If international governance does not reflect the new multipolar reality of the 21st century, it is up to BRICS to help bring it up to date,” Lula said in his remarks, which highlighted the failure of U.S.-led wars in the Middle East.
