The BRICS block of developing countries adopted an announcement on Sunday and condemned the unilateral tariff – but refrained from mentioning the United States or President Trump by name.
The group’s statement released at the two -day summit in Brazil raised “serious concerns” with tariffs, stating that they are “incompatible” with the WTO rules and “threaten to reduce global trade, disrupt global supply chains and show uncertainty.”
“We see serious concerns about the rise of unilateral tariffs and non-tariff measures that distort trade and are incompatible with WTO rules,” read in the announcement.
“In this context, we repeat our development with the World Trade Organization (WTO) for the rules-based, open, transparent, fair, inclusive, inclusive, unaccompanied, unanimous, unanimous,-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multi-based multilateral trading system and repeat our development with the World Trade Organization (WTO), with the Group, with the Group.
The announcement comes in the form of a 90-day break Trump, which ends the Trump released on its broad global “mutual” tariffs on individual countries around the world.
A week after the tariff was announced on April 2, 90 days of stagnation came into effective to give time to countries to interact with the Trump administration.
Trump and Treasury Secretary Scott Besant It is said that letters to American trade partners Going out on Monday to inform other countries that the tariff rates “Bumerang Back” will be taken to high rates on 1 August that files for countries that file a deal with the US soon to make a deal.
The BRICS Group also criticized NATO’s decision to increase the defense spending of GDP by 5 percent by 2035 – a decision inspired by Trump’s request that the defense burden of the Europe coalition got more shoulder.
Tusrap Shown to answer For the BRICS announcement, threatening to put an additional 10 percent tariff on the “aligned” countries with the BRICS blocks of developing countries.
“Any country that aligns itself with BRICS anti -American policies, an additional 10% tariff will be charged. There will be no exception to this policy. Thank you for your attention on this matter!” Trump wrote in a true social post on Sunday evening.
The BRICS was founded by Brazil, Russia, India, China and South Africa, but the group was expanded last year to include Indonesia, Iran, Egypt, Ethiopia and the United Arab Emirates.
Trump has threatened to put 100 percent tariff against the block to take any steps to reduce the dollar.
Associated Press contributed.
