President Donald Trump said the U.S. will impose an additional 10% tariff on any countries aligning themselves with the "Anti-American policies" of the BRICS group of developing nations, whose leaders kicked off a summit in Brazil on Sunday.

US President Donald Trump announced the imposition of a 50% tariff on Brazil. In response, the Brazilian President stated that they would retaliate against the US under reciprocal economic laws. They will not accept unilateral action.

President Donald Trump threatened to add a 10% tariff rate on BRICS-aligned countries. The term first applied to 4 countries but the group expanded.

Trump has threatened to impose 100% tariffs against the bloc if they take any moves to undermine the dollar. Last year, at the summit hosted by Russia in Kazan, the Kremlin sought to develop alternatives to U.S.-dominated payment systems which would allow it to dodge Western sanctions imposed after Russia’s invasion of Ukraine in February 2022

The 17th BRICS Summit concluded yesterday, attended by a delegation from the United Arab Emirates led by His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi. During the summit,

At their latest summit in Brazil, the BRICS nations once again portrayed themselves as an emerging geopolitical heavyweight. Yet the internal contradictions within this expanding group remain plain to see.

Exxon, Chevron, and others are increasingly eyeing South America for low-cost, low-emission production as shale basins mature and geopolitical risks remain lower than elsewhere.

Leaders of the BRICS group of major emerging economies are meeting in the Brazilian metropolis of Rio de Janeiro on Sunday for a two-day summit. The BRICS acronym is derived from the initial letters of the founding member countries: Brazil,

Trade and tariffs will be high on the agenda at the upcoming BRICS summit in Brazil, but geopolitical divisions and conflict could be distractions.

Brics, a grouping of 11 very diverse nations, has repeatedly got in US President Donald Trump’s crosshairs. He’s called it ‘anti-American’ and threatened punitive tariffs. Mint looks at Brics closely—its members, objectives, clout, recent actions and why it unsettles Trump.