Trump Threatens BRICS with Tariffs
(MENAFN) US President Donald Trump is weighing the introduction of tariffs on BRICS countries, accusing the alliance of pursuing agendas that oppose American interests.
During remarks made at the White House on Wednesday, Trump alleged that the bloc is actively trying to destabilize the US dollar and remove its status as the globe’s dominant reserve currency.
“They have BRICS, which is basically a group of countries which are anti the United States, and India is a member of that if you can believe it,” Trump stated.
“It’s an attack on the dollar, and we’re not going to let anybody attack the dollar.”
Previously, Trump cautioned that any move by BRICS to contest the supremacy of the dollar would provoke strict economic retaliation.
Member nations currently facing his administration’s recent trade restrictions—such as India and Brazil—have declared they will safeguard their national priorities.
In his Wednesday statement, Trump revealed that India will be subject to a 25% tariff along with other financial penalties beginning Friday, citing its sustained commerce with Russia.
He attributed these actions partly to India's involvement in BRICS and partly to what he described as a “tremendous” imbalance in trade between the US and New Delhi.
Additionally, Trump enacted a 50% duty on all Brazilian imports starting August 1.
He justified this decision by asserting that Brazil represents a danger to “the national security, foreign policy, and economy” of the United States.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
