U.S. President Donald Trump said on Tuesday that the United States will soon impose a 10 percent tariff on imports from BRICS countries.
He made the comment during a cabinet meeting at the White House, stating that any country in the BRICS group would face the charge and suggesting the tariff could affect their membership in the bloc.
The BRICS group, originally formed by Brazil, Russia, India, China, and South Africa, expanded last year to include countries such as Iran and Indonesia. Leaders of the bloc met this week at a summit in Rio de Janeiro, where they indirectly criticized U.S. trade and military policies.
Trump first raised the possibility of the tariff on Sunday and repeated the plan on Tuesday, although he gave no timeline.
Speaking at the BRICS summit, Brazilian President Luiz Inacio Lula da Silva responded by saying the world does not want an emperor. On Tuesday, after a state visit by Indian Prime Minister Narendra Modi, Lula rejected Trump’s comments and said Brazil would not accept criticism of the summit or threats of tariffs.
Trump said the BRICS group was formed to harm the United States and weaken the U.S. dollar’s position as the world’s reserve currency. He warned that losing that status would be like losing a major world war and that he would take steps to prevent it.
