๐จ BREAKING: Trump Warns of 10% Tariff on Nations Supporting BRICS' "Anti-American" Policies ๐จ
โถ๏ธ US President Donald Trump has threatened to impose a 10% additional tariff on countries aligning with the BRICS group's "anti-American" policies. This move signals rising tensions between the US and emerging economies, with Trump announcing tariff letters will be sent to scores of countries starting today, July 7 .
๐ข What's Behind the Move? ๐ค
The BRICS group, comprising Brazil, Russia, India, China, and South Africa, aims to redistribute global power-sharing to reflect current economic realities. The group has recently expanded to include Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates as members .
๐ Key Points:
โก๏ธ- Tariff Details: 10% additional tariff on countries aligning with BRICS' "anti-American" policies, with "no exceptions"
โก๏ธ- Affected Countries: Dozens of countries will receive tariff letters starting today, July 7
โก๏ธ- Deadline: US administration's 90-day tariff pause ends on Wednesday, with potential tariff hikes on August 1 if negotiations don't progress
โก๏ธ- Global Implications: Trump's tariff warning raises concerns of escalating trade tensions with emerging economies
๐ What Does This Mean for Global Trade? ๐
๐ This move injects fresh instability and uncertainty into the president's global tariff campaign, with the July 9 deadline for "reciprocal" tariff negotiations approaching. Countries will need to navigate the complexities of US trade policies and their relationships with the BRICS group .
Stay Tuned for Updates! ๐ฐ