BRICS is dead…. On one hand there are talks with India on trade, on the other hand Trump threatens the BRICS countries
Prime Minister Narendra Modi met President Donald Trump on Thursday. Meanwhile, President Donald Trump gave a speech on tariffs. While on one hand Trump is in talks with India to increase trade, on the other hand, Trump has given a stern warning to the BRICS countries on Thursday. Trump announced that if the BRICS countries move forward to launch a common currency, they will have to face 100% tariff on all imports into the US. Along with this, Trump said that BRICS is dead.
Ever since US President Donald Trump took charge of the country, he has been taking strict measures regarding tariffs and international trade. During his election campaign, Trump had said that an eye for an eye, tariff for tariff will be taken. Trump now seems to be moving in this direction.
What is your stance on India?
Prime Minister Modi is currently on a visit to America. Meanwhile, PM Modi and President Trump met on Thursday. During this, Trump praised PM Modi on one hand and discussed about increasing the trade between the two countries. On the other hand, Trump warned the BRICS group of which India is also a part. The US President said that if these countries create their own common currency, then they will have to face 100 percent tariff. Meanwhile, Trump said about imposing tariff on India, we will be whatever India charges.
Warning given to BRICS
President Donald Trump said, BRICS is dead. He made this statement a few hours before his scheduled meeting with Prime Minister Modi. BRICS has 11 members. It includes Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa, United Arab Emirates. Also, India is one of its founding members.
Donald Trump said about BRICS that if they play games against the dollar and launch any kind of common currency, they will be hit with a 100% tariff. He also said, the day they want to do this, they will come back to us. He reiterated his stance and said, BRICS ended the moment I said that if they mess with the dollar, they will have to face a 100% tariff.
When Donald Trump was asked about Brazil, Russia, India and China establishing their own currencies, he warned that if any trade takes place, at least 100% tariffs will be imposed.
Reciprocal tariff mentioned
Despite PM Modi's presence in Washington DC, Trump did not back down from his strong rhetoric against the BRICS block. Along with this, Trump also talked about reciprocal tariff. Talking about reciprocal tariff on his social media handle, Trump said, "Reciprocal tariff means tit for tat tariff is announced." Trump said that whatever tariff a country imposes on American goods, America will also impose the same tariff on the goods of that country.