Trump issues new trade warning, stating that the US will impose an additional 10% tariff on any country that agrees with the "anti-US policies" of the BRICS.
On Sunday, Trump stated on the social platform Truth Social, "Any country that aligns with the BRICS' anti-US policies will be subject to a 10% tariff. This policy will have no exceptions. Thank you all for your attention!" However, Trump did not explain or elaborate on the "anti-US policies" mentioned in his post.
The US government will send "tariff notice letters" to relevant countries before July 9, formally warning that their exported products will face higher tax rates starting August 1.
The BRICS summit opened on Sunday afternoon in Rio de Janeiro. In a joint statement, it warned that the tariff increase threatens global trade and subtly criticized Trump's tariff policy. During the meeting, participating countries also advocated for "multi-polar trade cooperation," which was viewed by Trump's camp as an "hostile gesture." The general interpretation is that Trump's move aims to force multiple developing economies to sign bilateral trade agreements with the US before the tariffs take effect.
Analysts point out that the additional 10% tariff could have a substantial impact on export countries in the Southern Hemisphere, especially in the trade of raw materials and agricultural products. Asian supply chains will also be affected.
Trump had previously set the base tariff for some countries at 10%, and proposed the option of increasing it to a maximum of 50%. July 9 was originally the effective date of these policies, but it has been postponed to August 1 to allow more time for bilateral negotiations.
Original article: https://www.toutiao.com/article/1836978778305924/
Statement: The article represents the views of the author.