‘BRICS Is Dead’: Trump Threatens 100 Per Cent Tariffs If It Goes Against Dollar- wna24
Washington: US President Donald Trump on Thursday said that BRICS is dead as it was put there for a bad purpose threatening the international grouping nations with massive tariffs.
Addressing a presser after announcing reciprocal tariffs on nations who charge heavy import duty on US products, President Trump said, “BRICS was put there for a bad purpose… I told them if they want to play games with the Dollar, then they are going to be hit by a 100 per cent tariff. The day they mention that they want to do it, they will come back and say – we beg you, we beg you. BRICS is dead since I mentioned that…”
A while ago, Trump announced, “On trade, I have decided that for the purpose of fairness, I’ll charge reciprocal tariffs – meaning, whatever countries charge the United States of America, we will charge them – no more, no less. They charge us with tax and tariffs, it’s very simple we will charge them with exact tax and tariffs.”
Taking to his own social media platform Truth Social, Trump wrote, “For purposes of this United States Policy, we will consider countries that use the VAT System, which is far more punitive than a tariff, to be similar to that of a tariff. Sending merchandise, product, or anything by any other name through another country, for purposes of unfairly harming America, will not be accepted. In addition, we will make provision for subsidies provided by countries in order to take economic advantage of the United States. Likewise, provisions will be made for non-monetary tariffs and trade barriers that some countries charge in order to keep our product out of their domain or, if they do not even let US businesses operate. We are able to accurately determine the cost of these non-monetary trade barriers. It is fair to all, no other country can complain and, in some cases, if a country feels that the United States would be getting too high a tariff, all they have to do is reduce or terminate their tariff against us. There are no tariffs if you manufacture or build your product in the United States.”
“For many years, the U.S. has been treated unfairly by other Countries, both friend and foe. This System will immediately bring Fairness and Prosperity back into the previously complex and unfair System of Trade. America has helped many Countries throughout the years, at great financial cost. It is now time that these Countries remember this, and treat us fairly – A level playing field for American workers. I have instructed my Secretary of State, Secretary of Commerce, Secretary of the Treasury, and United States Trade Representative (USTR) to do all work necessary to deliver reciprocity to our System of Trade,” Trump’s long post on Truth Social reads.