Trump Blasts BRICS Nations, Threatens 10% Tariff Amid Rising Tensions
Washington (The Uttam Hindu): US President Donald Trump has once again taken a threatening stance regarding tariffs. Through a post on his social media platform 'Truth Social', he has announced that any country that supports the anti-American policies of the BRICS group will be imposed an additional tariff of 10 percent. Trump has clarified that no country will be given any exemption in this policy.
Donald Trump got angry on BRICS countries: This announcement is of particular concern for India, as India is one of the founding members of BRICS. Recently, Prime Minister Narendra Modi participated in the 17th BRICS summit held in Rio de Janeiro, Brazil. In such a situation, this statement of Trump can create a new tension in India-US trade relations.
Clouds of crisis loom over India-US trade deal
Trump's statement has come at a time when India and America are trying to finalize an interim trade agreement. According to the information, India has clarified its position on sensitive areas like agriculture and dairy for this agreement and now the ball is in America's court. It was expected that if all the issues are resolved, then this trade agreement can be announced before July 9.
The tariff game is already underway
It is worth noting that there are already differences between the two countries regarding tariffs. On April 2, the US imposed an additional retaliatory duty of 26 percent on Indian goods, which has been postponed for 90 days at the moment. However, the basic duty of 10 percent is still applicable. India is demanding a complete exemption from this 26 percent duty. If the proposed trade talks fail, this additional duty of 26 percent will be implemented again. Apart from this, there is also a dispute between the two countries regarding the US duty on steel, aluminum (50%) and vehicles (25%).
Just last week, an Indian delegation returned from Washington after negotiating an interim trade agreement. After this new announcement by Trump, the future of the trade talks has become more uncertain.