Donald Trump
The United States will not immediately impose an additional 10 percent tariff on members of the BRICS bloc, but will proceed if member countries adopt “anti-American” policy actions, Reuters reports.
“A line is being drawn. If policy decisions are made that are anti-American, then the tariff will be charged,” the report said, citing a source familiar with the matter.
On Sunday, US President Donald Trump said countries aligning themselves with the “Anti-American policies of BRICS” will be charged an additional 10 percent tariff.
Nigeria is a partner country of the bloc.
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No executive order has been released by the White House regarding the matter.
Trump’s announcement came as the bloc met in Rio de Janeiro, Brazil, for its 17th summit.
It also came as the US began formally notifying affected countries of the tariffs declared earlier this year.
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India, Indonesia and some countries within the BRICS group were said to be negotiating last-minute trade deals with the US government ahead of a July 9 deadline when tariff rates had been scheduled to go up.
But the effective date for those tariffs has now been postponed to August 1.
Earlier, Brazilian President Luiz Lula da Silva chided Trump, saying the world does not need an emperor.
In February, Trump warned that BRICS would face “100% tariffs” if they tried to undermine the role of the US dollar in global trade.
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