Trump threatens extra 10% tariffs on BRICS as leaders meet in Brazil

 

 U.S. President Donald Trump has triggered new trade tensions by announcing a 10% tariff on countries aligning with BRICS, a growing coalition of developing economies. This statement came on the heels of the BRICS summit, currently underway in Rio de Janeiro, Brazil, where world leaders gathered to promote multilateral diplomacy and challenge what they see as an outdated global order dominated by the West.

Trump posted on Truth Social, saying:“Any country aligning themselves with the Anti-American policies of BRICS will be charged an additional 10% tariff. There will be no exceptions.”He did not elaborate on what constitutes "Anti-American policies."

The BRICS bloc  originally formed by Brazil, Russia, India, China, and South Africa  has expanded to include Egypt, Ethiopia, Indonesia, Iran, and the UAE. Over 30 more countries are interested in joining. Trump’s threat comes as his administration is racing to finalize new trade deals before a July 9 deadline tied to major tariff decisions.In a joint statement, BRICS leaders criticized global protectionism, suggesting such measures threaten global trade. Brazil’s President Lula da Silva argued that BRICS is the successor to the Cold War-era Non-Aligned Movement, defending autonomy and sovereignty for the Global South.

BRICS leaders aim to reshape global institutions such as the UN Security Council and the IMF to better reflect today’s multipolar world. Despite differences among its members, BRICS continues to gain momentum as a diplomatic counterweight to Western-led forums like the G7 and G20, both of which have been hampered by internal divisions and U.S. isolationist policies under Trump.

The BRICS summit in Brazil is showcasing the bloc’s ambition to become a voice for the Global South, with members calling for economic reforms, AI safeguards, and climate finance. Brazilian President Lula da Silva highlighted BRICS' importance, noting the group now represents over 50% of the global population and 40% of economic output.

He urged BRICS to push for updates to global governance that reflect current realities, especially with U.S.-led initiatives failing in recent years. Lula emphasized that rising protectionism and unilateralism, like Trump’s tariff threats, endanger multilateral cooperation.

The group’s joint statement condemned attacks on Iranian infrastructure, called for support to Palestinians in Gaza, and denounced a recent "terrorist attack" in Kashmir. It also endorsed the inclusion of Iran and Ethiopia into the World Trade Organization and proposed reforms to the WTO's dispute resolution mechanism.

Notably, Russian President Vladimir Putin joined the summit virtually due to an ICC warrant, while Chinese President Xi Jinping sent Premier Li Qiang in his place. In person were leaders like India’s Narendra Modi and South Africa’s Cyril Ramaphosa.

The BRICS New Development Bank is planning a Multilateral Guarantees initiative to lower borrowing costs and improve investment flows across member states. Meanwhile, discussions around artificial intelligence focused on preventing unauthorized data use and ensuring fair compensation for AI-generated products.

In environmental talks, China and the UAE expressed interest in Brazil’s Tropical Forests Forever Facility, a global fund to protect endangered forests. This comes as Brazil prepares to host the UN climate summit in November.

While BRICS’ expansion adds influence, it also introduces complexities, with rivalries and differing priorities within the bloc. Still, the summit marks a pivotal moment as developing nations push for a stronger global voice amid rising East-West tensions.

The BRICS summit in Brazil is showcasing the bloc’s ambition to become a voice for the Global South, with members calling for economic reforms, AI safeguards, and climate finance. Brazilian President Lula da Silva highlighted BRICS' importance, noting the group now represents over 50% of the global population and 40% of economic output.

He urged BRICS to push for updates to global governance that reflect current realities, especially with U.S.-led initiatives failing in recent years. Lula emphasized that rising protectionism and unilateralism, like Trump’s tariff threats, endanger multilateral cooperation.

The group’s joint statement condemned attacks on Iranian infrastructure, called for support to Palestinians in Gaza, and denounced a recent "terrorist attack" in Kashmir. It also endorsed the inclusion of Iran and Ethiopia into the World Trade Organization and proposed reforms to the WTO's dispute resolution mechanism.

Notably, Russian President Vladimir Putin joined the summit virtually due to an ICC warrant, while Chinese President Xi Jinping sent Premier Li Qiang in his place. In person were leaders like India’s Narendra Modi and South Africa’s Cyril Ramaphosa.

The BRICS New Development Bank is planning a Multilateral Guarantees initiative to lower borrowing costs and improve investment flows across member states. Meanwhile, discussions around artificial intelligence focused on preventing unauthorized data use and ensuring fair compensation for AI-generated products.

In environmental talks, China and the UAE expressed interest in Brazil’s Tropical Forests Forever Facility, a global fund to protect endangered forests. This comes as Brazil prepares to host the UN climate summit in November.

While BRICS’ expansion adds influence, it also introduces complexities, with rivalries and differing priorities within the bloc. Still, the summit marks a pivotal moment as developing nations push for a stronger global voice amid rising East-West tensions.

See also: Trump says tariff letters to 12 countries signed, going out Monday