Donald Trump reiterates warning! BRICS countries, including India, to be charged 10% additional tariffs; US President says group is ‘trying to destroy dollar’
US President Donald Trump on Tuesday reiterated his warning of an additional 10% tariff on BRICS nations, including India. Trump alleged the BRICS group is working to weaken the US dollar. During a Cabinet meeting under his leadership, Trump issued a stern warning, stating: “BRICS is getting 10% charge pretty soon.“When asked about India’s position, considering its status as a significant US trade partner and BRICS member, Trump clarified that no exceptions would be made. Trump explicitly stated that India’s membership in BRICS means it would be subject to the same additional 10% tariffs planned for the entire bloc.“…They (India) will certainly have to pay 10% if they are in BRICS because BRICS was set up to hurt us, to degenerate our dollar…The Dollar is king. We are going to keep it that way. If people want to challenge it, they can. But they will have to pay a big price. I don’t think any of them are going to pay that price,” Donald Trump said.Also Read | India-US trade deal soon? Donald Trump says so, but India needs to be wary of ‘escalating pressure’; ‘in future US may…’The American head of state reiterated his claim that BRICS was “trying to destroy the dollar”. Nevertheless, he expressed his view that the alliance does not pose a genuine challenge to the United States.Yesterday, Trump had posted on Truth Social, “Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy. Thank you for your attention to this matter!”
India-US Trade Deal Soon?
Trump’s warning comes at a time when India and the US are looking to finalise an interim trade deal. Soon after issuing tariff letters to 14 countries, Trump said that a trade deal with India is on the horizon. “We’re close to making a deal with India,” he said.A final trade deal is likely to be signed by Trump and PM Narendra Modi when the US President visits India in the fall. For now officials have said that an interim or mini trade deal is likely to be announced. This may leave out the sticky agriculture and dairy sectors on which India is said to have hardened its stance.Indian officials were in the US for several days last month and returned in early July. Sources told PTI over the weekend that the “ball is now in US court” on the trade deal.Also Read | ‘India has drawn its red lines…’: Ahead of Donald Trump’s tariff deadline, officials say ‘ball in US court’ on trade deal; here’s what’s happening
Donald Trump Shares Tariff Letters for 14 Countries
Extending the earlier July 9 deadline for reciprocal tariffs to kick in, Trump has now said that the new tariff rates on various countries will be applicable from August 1, 2025. He has said the the tariffs announced in the letters are open to negotiation with the US should the countries wish to avoid them.Earlier today Trump posted on Truth Social, “As per letters sent to various countries yesterday, in addition to letters that will be sent today, tomorrow, and for the next short period of time, TARIFFS WILL START BEING PAID ON AUGUST 1, 2025. There has been no change to this date, and there will be no change. In other words, all money will be due and payable starting AUGUST 1, 2025 – No extensions will be granted. Thank you for your attention to this matter!”Also Read | Donald Trump releases 14 tariff letters: Japan, South Korea, Myanmar, Malaysia & other countries to face up to 40% duties from August 1; check full list
