The United States will introduce import duties of 10% in respect of BRICS members, President Donald Trump said.
“Well, if they are a member of BRICS, they’re going to have to pay 10% tariff just for that,” Trump said.
“BRICS was set up to hurt us,” the US leader said. “BRICS is not, in my opinion, a serious threat,” he continued.
“But what they’re trying to do is destroy the dollar, so that another country can take over and be the standard. And we’re not going to lose the standard at any time,” Trump stressed.
Meanwhile, the BRICS, a group of 11 major emerging countries held their annual summit on Sunday and Monday in Rio de Janeiro.
The BRICS Leaders at the summit decried US President Donald Trump’s “indiscriminate” trade tariffs while presenting the bloc as a defender of multilateralism.
Global health policies, artificial intelligence and climate change were also be on the agenda.
Brics member countries have begun exploratory discussions on creating a multilateral investment guarantee mechanism, a move aimed at deepening the bloc’s role in helping to stabilise the global economy.
The BRICS countries say they represent almost half of the world’s population, 36 percent of global land area, and a quarter of the global economic output.
The bloc sees itself as a forum for cooperation between countries of the Global South and a counterweight to the Group of Seven (G7), comprised of leading Western economic powers.
