BRICS, Trump and trade war
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Trump, tariff
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President Donald Trump threatened to add a 10% tariff rate on BRICS-aligned countries. The term first applied to 4 countries but the group expanded.
U.S. President Donald Trump said on Tuesday the U.S. would "pretty soon" charge a 10% tariff on imports from BRICS countries, drawing another complaint from Brazil President Luiz Inacio Lula da Silva,
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Dollar Edges Lower As Forex Traders Watch Trump’s Tariff Moves, Brazilian Real Dips To 1-Month LowThe U.S. Dollar Index (DXY), which closed Wednesday’s session marginally lower, fell slightly early Thursday as President Donald Trump kept up the pressure on the country’s major trading partners. The DXY measures the performance of the greenback against a basket of six major global currencies.
Brazil’s President forcefully rebuked Trump after the U.S. leader called the prosecution of Lula’s predecessor, Bolsonaro, a “witch hunt” and hiked tariffs on the Latin American nation.
Donald Trump said on Wednesday he would impose 50% tariffs on Brazil, a dramatic increase that followed the US leader’s intense vocal criticism of the foreign and domestic policies of leftist President Luiz Inacio Lula da Silva.
U.S. President Donald Trump broadened his global trade war on Tuesday as he announced a 50% tariff on imported copper and said long-threatened levies on semiconductors and pharmaceuticals were coming soon.
Any country aligning themselves with the anti-American policies of BRICS will be charged an additional 10% tariff."
President Donald Trump vowed to push forward with his aggressive tariff regime in the coming days, stressing he would not offer additional extensions on country-specific levies set to now hit in early August while indicating he could announce substantial new rates on imports of copper and pharmaceuticals.
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