Trump tariff threat clouds final day of BRICS summit

RIO DE JANEIRO: US President Donald Trump’s decision to hit “anti-American” BRICS nations – including China and India – with an extra 10 per cent trade tariff roiled the final day of the bloc’s summit in Rio de Janeiro Monday (Jul 7).

Trump threatened the 11-nation grouping, which includes some of the world’s fastest-emerging economies, late on Sunday, after they warned against his “indiscriminate,” damaging and illegal tariff hikes.

“Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff,” Trump wrote on social media.

BRICS members account for about half the world’s population and 40 per cent of global economic output.

Members China, Russia and South Africa responded coolly to Trump’s latest verbal barrage, insisting the bloc was not seeking confrontation with Washington.

But host Brazil’s leftist President Luiz Inacio Lula da Silva was less diplomatic.

“We are sovereign nations,” Lula said. “We don’t want an emperor.”