10% Extra Tariff on India and Other Nations for Being Part of BRICS “Coming Pretty Soon”: Trump
The ongoing trade tensions between the United States and other nations have taken a new turn, as US President Donald Trump recently announced that a 10% extra tariff on India and other nations for being part of the BRICS (Brazil, Russia, India, China, and South Africa) bloc is “coming pretty soon”. This move has sent shockwaves across the global economy, with many analysts and experts warning of potential retaliatory measures from the affected nations.
The BRICS bloc was formed in 2006 with the aim of promoting economic cooperation and integration among its member states. The organization has been growing in strength and influence over the years, with many of its member states emerging as major economies in their own right. India, in particular, has been a key player in the bloc, and has been actively working to strengthen its economic ties with the other member states.
However, the Trump administration has been critical of the BRICS bloc, accusing it of being a vehicle for China to undermine the dominance of the US dollar as a global currency. In a recent tweet, Trump claimed that the BRICS bloc was “setup to degenerate our dollar and take our dollar off as a standard”. He also warned that the US would not stand idly by while other nations attempted to undermine its economic interests.
“We’re going to play the game too,” Trump said, hinting at the possibility of imposing tariffs on BRICS nations. “It’s ok if they want to play that game, I can play that game too.” The President’s comments have been widely interpreted as a threat to impose tariffs on Indian and other BRICS goods, which could have significant implications for the global economy.
The move is seen as a major blow to the BRICS bloc, which has been working to promote economic cooperation and integration among its member states. The bloc has been a key player in global trade negotiations, and has been pushing for greater economic cooperation and integration among its member states.
India, in particular, has been a key beneficiary of the BRICS bloc, and has been actively working to strengthen its economic ties with the other member states. The country has been a major player in global trade, and has been working to promote its own economic interests through the bloc.
The Indian government has been quick to respond to Trump’s comments, with finance minister Nirmala Sitharaman stating that India would not be intimidated by the threat of tariffs. “We are not going to be cowed down by such threats,” she said. “We will continue to work towards promoting our economic interests through the BRICS bloc.”
The move has also been criticized by other BRICS nations, with Russian president Vladimir Putin warning that the US was “unilaterally imposing its will” on the global economy. “The BRICS bloc is a key player in global trade, and we will not be intimidated by the threats of the US,” he said.
The announcement has sent shockwaves across the global economy, with many analysts and experts warning of potential retaliatory measures from the affected nations. The move is seen as a major blow to global trade, and could have significant implications for the global economy.
In conclusion, the Trump administration’s announcement that a 10% extra tariff on India and other nations for being part of the BRICS bloc is “coming pretty soon” has sent shockwaves across the global economy. The move is seen as a major blow to global trade, and could have significant implications for the global economy. The Indian government has been quick to respond to the threat, with finance minister Nirmala Sitharaman stating that India would not be intimidated by the threat of tariffs.
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