 "‘They will come back and beg:’ Trump reiterates 100% tariff threat on BRICS nations")
US President Donald Trump Thursday (February 13) reiterated his stern warning to the BRICS nations, saying he would impose a 100 per cent tariff on the bloc of developing nations if they proceed with launching a common currency.
When asked about the prospect of Brazil, Russia, India, and China setting up their own currency, Trump responded, “If any trading gets through, it’ll be 100% tariff, at least."
Trump’s statement came after he announced plans to impose reciprocal tariffs on any nation that levies duties on US imports.
‘BRICS was put for bad purpose’
While addressing reporters at the White House, Trump said the BRICS bloc, which now boasts ten member nations, was put there “for a bad purpose”.
“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% 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…,” Trump warned.
Trump’s reciprocal tariff regime
The Trump administration maintains that the reciprocal tariff regime is to bolster US economic and national security by forcing foreign nations to adhere to fairer trade practices.
According to a White House official, the tariffs would not come in effect immediately and may take weeks.
The move is set to hit nations like India and Japan as well as the European Union the hardest, reported American media.
Trump’s announcement came just hours ahe ad of his highly anticipated meeting with Indian Prime Minister Narendra Modi.
Ahead of the meeting, Trump also criticised New Delhi for “high tariffs”, saying India has more tariffs than nearly any other country.
“Traditionally, India is right at the top of the pack pretty much. There are a couple of smaller countries that are actually more but India charges tremendous tariffs. I remember when Harley Davidson couldn’t sell their motorbikes in India because of the fact that in India – the tax was so high, the tariff was so high, and Harley was forced to build… But I think they built a factory in India in order to avoid paying the tariffs. And that’s what people can do with us. They can build a factory here, a plant or whatever it may be here and that includes the medical, that includes cars, that includes chips and semiconductors,” said the US president.
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