On Wednesday, US President Donald Trump increased the tariff on Indian goods to 50 per cent, adding an additional 25 percent, as a “punishment” for the country purchasing oil from Russia.
BRICS Stands United on Trump’s Tariff Tantrums
On Wednesday, US President Donald Trump increased the tariff on Indian goods to 50 per cent, adding an additional 25 percent, as a “punishment” for the country purchasing oil from Russia.
What’s BRICS?
BRICS is an intergovernmental organisation comprising Brazil, Russia, India, China, and South Africa as its original members. It also includes Saudi Arabia, Egypt, United Arab Emirates, Ethiopia, Indonesia, and Iran, making the group totally comprise of 11 countries. The objectives of BRICS include strengthening economic, political, and social cooperation among its members, as well as increasing the influence of Global South countries in international governance, notes the organisation’s official website.
The member countries have come together to fight the heavy tariffs laid upon imports. Several news reports noted that BRICS nations have stood united against US tariff aggression. However, Trump has been critical of India’s role in the BRICS trading bloc and has called the group “anti the United States”.
Brazil
Brazilian President Luiz Inacio Lula da Silva in an interview with Reuters, emphasised that Brazil now has the presidency of the BRICS and he wants to discuss with allies why Trump is attacking multilateralism. “Had a good conversation with President Lula… a strong, people-centric partnership between Global South nations benefits everyone,” the Indian PM posted on X.
China
China’s Ambassador to India, Xu Feihong, backed New Delhi amid the US tariff imposition on India by Trump. Despite frosty relations between the two Asian countries, the Chinese official condemned US President’s actions and said it was unacceptable to “use tariffs as a weapon to suppress other countries.”
BRICS planning retaliatory measures?
China, Canada, and the European Union have taken retaliatory measures in response to Trump’s imposition or increase of tariffs. Would India go also go ahead with retaliatory tariffs? Congress MP and former global diplomat Shashi Tharoor suggested that the country must “retaliate” against the tariffs.
“We should impose the same rate if nothing changes in the next three weeks,” Tharoor remarked after saying, “We should first negotiate. I don’t know Mr Trump is so angry with us.”
Trade Data
