BRICS, Trump and 10 tariff
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President Donald Trump’s threat to impose new tariffs on India over its participation in the BRICS forum puts New Delhi in a tough position as it races to finalize a favorable trade deal with the US.Trump said Tuesday that India could face an additional 10% tariff alongside other members of BRICS — a bloc of emerging economies he has labeled “Anti-American.
President Donald Trump announced a 50% tariff on goods from Brazil—the highest rate he has announced since he began announcing new levies this week in letters on social media—directly citing the country’s ongoing prosecution of former President Jair Bolsonaro, which he referred to as an “international disgrace” and a “witch hunt.”
U.S. President Donald Trump broadened his global trade war on Tuesday as he announced a 50% tariff on imported copper and said long-threatened levies on semiconductors and pharmaceuticals were coming soon.
Donald Trump’s threat to impose 50% tariffs on Brazilian goods sent the country’s currency plunging as the US leader sharply escalated a dispute with Latin America’s largest nation and leftist leader Luiz Inacio Lula da Silva.
Trump and his aides have repeatedly shifted their stance on tariffs in the weeks since the president’s “Liberation Day” announcement.
The Indian rupee slumped on Monday as uncertainty about U.S. tariff policies resurfaced with President Donald Trump's threat of a fresh 10% levy on BRICS countries compounding pressure on the local currency alongside peers like South African rand and Chinese yuan.
President Donald Trump has threatened and pulled back deadlines to impose tariffs no fewer than four times over his first six months in office.
US President Donald Trump unveiled a new round of tariff demand letters on Wednesday with levies set to hit in August on imported goods from partners who fail to reach agreements with the US. Trump said he would levy a 30% rate on Algeria,