President Donald Trump of the United States has threatened to impose an additional 10% tax on nations who support the Brics alliance’s policies that conflict with American interests.
Brics, an institution that was created to challenge the US and western Europe and improve nations’ international status, has long been condemned by Trump. Its members include China, Russia, and India.
Any nation that supports the BRICS’ anti-American actions will be subject to an additional 10% tariff. “This policy will not be exempted,” Trump said on social media. US officials now claim that nations will start working on a tariff agreement with the US on August 1st, instead of the previously established date of July 9th.
The United States has only signed trade agreements with Vietnam and the United Kingdom thus far. But the United States and Britain are still at odds over levies on US imports of British steel.
Trump has declared a number of import levies on foreign goods since becoming office in January, claiming that these measures will safeguard American jobs and increase manufacturing.
He declared a series of new tariffs on items from all over the world on what he named “Liberation Day” in April, but he swiftly halted his most ambitious proposals to allow for three months of negotiations until July 9.
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