Latest news with #BricsNations
South China Morning Post
2 days ago
- Business
- South China Morning Post
What's behind Trump's Brics wrath and will India-US trade talks be affected?
US President Donald Trump 's threat to slap an additional 10 per cent tariff on Brics nations may be more of a strategic warning rather than a prelude to action – and is not expected to disrupt India 's efforts to finalise a trade pact with Washington, according to analysts. Advertisement In a speech on Tuesday, Trump accused the 10-member bloc – comprising Brazil, Russia, India, China and South Africa, alongside newer entrants such as Iran, Egypt and Indonesia – of undermining the United States and seeking to weaken the dollar's global reserve currency status. Losing that status, he said, would be like 'losing a war, a major world war'. Trump's remarks sparked uncertainty over the fate of trade talks with India, though Washington signalled goodwill by excluding New Delhi from a list of 14 countries hit with new tariffs – a list that included close allies such as Japan and South Korea. 01:47 Brics leaders condemn strikes on Iran and tariffs but avoid direct mention of US, Israel Brics leaders condemn strikes on Iran and tariffs but avoid direct mention of US, Israel The US had first imposed tariffs on April 2 but paused their full implementation for 90 days. That pause was recently extended to August 1, with Trump framing it as a final deadline for countries to reach bilateral agreements.
South China Morning Post
6 days ago
- Business
- South China Morning Post
Trump vows bigger tariffs for ‘anti-American' policies as China urges Brics cohesion
US President Donald Trump has threatened to slam an additional 10 per cent tariffs on countries supporting what he calls 'anti-American policies' after the leaders of Brics nations condemned unilateral tariffs. 'As the leading bloc of the Global South, Brics countries should … strive to be a pioneering force in advancing the reform of global governance,' Li said in a speech delivered at the Brics summit on Sunday and released on Monday morning. At an event widely seen as a direct challenge to the Western-led world order, the premier said member states should uphold independence, show a sense of responsibility and take greater action to build consensus and pool their strengths. 01:47 Brics leaders condemn strikes on Iran and tariffs but avoid direct mention of US, Israel Brics leaders condemn strikes on Iran and tariffs but avoid direct mention of US, Israel As the clock counts down to the end of a temporary tariff truce with the US on Wednesday, Li called for improving global governance.
