Trump Warns of Additional 10% Tariff on Countries Supporting Brics
US President Donald Trump threatens a 10% tariff on nations aligning with Brics policies against US interests. The deadline for a trade deal was set for 9 July, with tariffs now expected to start on 1 August. Trump plans to send letters to countries specifying the tariff rate if no agreement is reached.
US President Donald Trump has warned that countries aligning with Brics policies against US interests will face an extra 10% tariff. Trump criticized Brics, including China, Russia, and India. The US set a deadline for a trade deal on 9 July, but tariffs will now start on 1 August.
Trump announced import tariffs to boost American manufacturing. The US has agreements with the UK, Vietnam, and a partial deal with China. Talks are ongoing with the EU on tariffs for goods entering the US.
Trump plans to send letters to countries informing them of new tariff rates if no deal is reached. The taxes will be effective from 1 August. Last year, Brics expanded to include more countries.
Trump's threat to countries working with Brics came after members criticized US tariffs and proposed IMF reforms. Brics finance ministers warned tariffs could harm the global economy.
US trade deals include tariff cuts with the UK, a deal with Vietnam, and a partial agreement with China.
According to the source: BBC.
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