BRICS, Trump and tariff
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ET Now on MSNWhy is Donald Trump at loggerheads with BRICS? Reasons? De-dollarisation, common currency or something else? DETAILSBRICS, formed in 2009, is the only major international group of which the US is not a part. Its other members are South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates.
President Donald Trump threatened to add a 10% tariff rate on BRICS-aligned countries. The term first applied to 4 countries but the group expanded.
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MiBolsilloColombia on MSNTariffs 'Not 100% Firm': Trump's Strategy Sparks Global BRICS FuryPresident Donald Trump's administration has reignited global trade debates with its ambiguous tariff strategy, extending deadlines and provoking strong international reactions.
The White House concluded that non-tariff methods for punishing Brazil would take too long, two people familiar with the situation said.
Any country aligning themselves with the anti-American policies of BRICS will be charged an additional 10% tariff."
President Donald Trump threatened to double the baseline universal tariff to 20%, citing record stock gains to dispel fears that such a move would hammer the global economy. Even as financial markets barely budged on the news,