Today marks the second and last day of the 17th BRICS summit, with the meeting attended by representatives from countries like China, Russia, and India. After the group released a joint statement speaking out against tariffs, President Trump responded with a new threat.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
“Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff,” said Trump on Truth Social.
China, Russia, and South Africa Respond to Trump’s Tariff Threat
“Tariffs should not be used as a tool for coercion and pressuring,” said Chinese foreign ministry spokesperson Mao Ning. Ning added that BRICS “does not target any country.”
A Kremlin spokesperson added to Ning’s message, saying that Russia’s participation in BRICS “will never be directed against third countries.” South African trade ministry spokesman Kaamil Alli said that the country isn’t anti-American and that trade talks with the U.S. are making progress.
For more trade and tariff news, check out TipRanks’ Stock Analysis and News feed.
