United States President Donald Trump has warned that countries that have sided with the policies of the BRICS alliance against US interests will be hit with an extra 10% tariff.
Trump has long criticised BRICS, an organisation whose members include Brazil, Russia, India and China, which was designed to boost the countries’ international standing and challenge the US and Western Europe.
“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 wrote on social media.
Trump’s threat to countries working with BRICS nations emerged after members criticised US tariff policies, as well as proposing reforms to the International Monetary Fund (IMF) and how major currencies are valued.
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.
The bloc’s countries account for more than half of the world’s population. BRICS leaders, who are holding a two-day meeting in Rio de Janeiro, have called for reforms to global institutions and positioned the alliance as a platform for diplomacy amid escalating trade conflicts and geopolitical tensions.
A joint statement by finance ministers of the BRICS nations on Sunday, criticised tariffs as a threat to global economy, bringing “uncertainty into international economic and trade activities”.
Deputy Secretary General of the International Chambers of Commerce, Andrew Wilson, said it would be challenging for countries to move away from doing business with China.
He told the BBC’s Today programme that shifting away from China in a number of sectors was far more difficult in practice.
“You look at the dominance China has in a number of sectors – EVs, batteries and particularly rare earths and magnets, there are no viable alternatives to China production,” Wilson said.
During the meeting in Brazil, leaders also condemned the military strikes on Iran in June, saying the attacks were a violation of international law.
World leaders, including Indian Prime Minister Narendra Modi and South African President Cyril Ramaphosa, physically attended the BRICS summit.
China’s President Xi Jinping missed the event for the first time, with Premier Li Qiang standing in for him.
Russia’s President Vladimir Putin, who has an arrest warrant from the International Criminal Court against him over alleged war crimes in Ukraine, attended online.
In 2024, Trump threatened 100% tariffs on BRICS countries if they moved ahead with their own currency to rival the US dollar.
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