Trump threatens 10% tariffs on BRICS allies, sparking trade tensions

President Trump warned of an additional 10% U.S. tariff on nations aligning with BRICS, sparking trade tensions as leaders meet in Rio. BRICS members denounced protectionism and Trump’s tariffs. Key points include India, South Africa, Brazil, with China and Russia joining virtually. The U.S. aims to finalize bilateral trade deals by July 9. Trump’s tariff threat may deter countries from siding with BRICS, potentially benefiting American industries. However, escalating tensions could disrupt global trade and slow economic growth, impacting businesses and consumers. BRICS leaders must navigate Trump’s ultimatum while seeking to reshape the international economic order.

Read more at Quiver Quantitative: Trump Threatens 10% Tariffs on BRICS Allies Over Anti-American Policies