President Donald Trump has warned that the U.S. will impose an additional 10% tariff on any countries aligning themselves with the "Anti-American policies" of the BRICS bloc, as the group’s leaders gathered for 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, BRICS is presenting itself as a haven for multilateral diplomacy amid violent conflicts and trade wars, News.Az reports, citing Reuters.
In opening remarks to the BRICS summit in Rio de Janeiro, 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."
In a joint statement 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". India’s foreign ministry did not immediately respond to a request for comment.
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.
The original BRICS group gathered leaders from Brazil, Russia, India and China at its first summit in 2009. The bloc later added South Africa and last year included Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the United Arab Emirates as members. This is the first summit of leaders to include Indonesia.
More than 30 nations have expressed interest in participating in the BRICS, either as full members or partners.
News.Az
