US President Donald Trump says countries that side with the polices of the Brics alliance that go against US interests will be hit with an extra 10% tariff.
“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,” Trump posted on his Truth Social platform on Sunday.
His comments came after Brics members criticised his tariff policies as well as proposing reforms to the International Monetary Fund (IMF) and how major currencies are valued.
Trump has long criticised Brics – an alliance designed to boost member nations’ standing on the international stage to challenge the US and Western Europe.
Last year, the list of Brics members expanded beyond Brazil, Russia, India, China and South Africa to include Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the United Arab Emirates (UAE).
The bloc is said to represent more than half of the world’s population.
Brics leaders, who started a meeting in Rio de Janeiro, Brazil this weekend, have called for reforms to global institutions and positioned the alliance as a platform for diplomacy amid escalating trade conflicts and geopolitical tensions.
