The Prague Post - Trump tariff threat clouds final day of BRICS summit

EUR -
AED 4.301287
AFN 81.44339
ALL 97.256009
AMD 449.811505
ANG 2.095736
AOA 1073.85222
ARS 1477.940942
AUD 1.803279
AWG 2.107889
AZN 1.993701
BAM 1.953222
BBD 2.364779
BDT 143.240935
BGN 1.955488
BHD 0.441494
BIF 3444.056046
BMD 1.171049
BND 1.498023
BOB 8.093318
BRL 6.427422
BSD 1.171254
BTN 100.545289
BWP 15.626108
BYN 3.832941
BYR 22952.566647
BZD 2.352595
CAD 1.601662
CDF 3378.477078
CHF 0.934963
CLF 0.028729
CLP 1102.472637
CNY 8.402159
CNH 8.407151
COP 4724.598476
CRC 591.519247
CUC 1.171049
CUP 31.032807
CVE 110.435723
CZK 24.646142
DJF 208.119278
DKK 7.46113
DOP 70.321496
DZD 151.801189
EGP 58.17504
ERN 17.56574
ETB 158.999254
FJD 2.635799
FKP 0.857976
GBP 0.860645
GEL 3.173499
GGP 0.857976
GHS 12.176536
GIP 0.857976
GMD 83.725272
GNF 10136.602595
GTQ 9.003117
GYD 245.036573
HKD 9.191777
HNL 30.740172
HRK 7.535737
HTG 153.217766
HUF 400.135721
IDR 19124.172215
ILS 3.933586
IMP 0.857976
INR 100.584702
IQD 1534.074608
IRR 49330.45253
ISK 142.5409
JEP 0.857976
JMD 186.933265
JOD 0.830294
JPY 171.034095
KES 151.654056
KGS 102.407981
KHR 4708.789116
KMF 492.482493
KPW 1053.944246
KRW 1611.387514
KWD 0.357591
KYD 0.975995
KZT 608.416944
LAK 25236.113109
LBP 104926.0187
LKR 352.384883
LRD 234.797199
LSL 20.914548
LTL 3.457804
LVL 0.708356
LYD 6.311669
MAD 10.557598
MDL 19.758583
MGA 5187.748456
MKD 61.548104
MMK 2458.666288
MNT 4196.572684
MOP 9.4702
MRU 46.496549
MUR 52.697379
MVR 18.01863
MWK 2033.532616
MXN 21.858689
MYR 4.95881
MZN 74.899788
NAD 20.915244
NGN 1796.378115
NIO 43.035823
NOK 11.878205
NPR 160.872662
NZD 1.952839
OMR 0.450265
PAB 1.171254
PEN 4.175372
PGK 4.873615
PHP 66.298969
PKR 332.870935
PLN 4.251202
PYG 9333.68037
QAR 4.263323
RON 5.061741
RSD 117.120162
RUB 92.170582
RWF 1679.284723
SAR 4.391868
SBD 9.76295
SCR 16.524742
SDG 703.210794
SEK 11.172917
SGD 1.498533
SHP 0.920261
SLE 26.347631
SLL 24556.322981
SOS 669.262708
SRD 43.624514
STD 24238.356559
SVC 10.248473
SYP 15225.897194
SZL 20.914644
THB 38.199145
TJS 11.272921
TMT 4.110383
TND 3.393118
TOP 2.742719
TRY 46.841837
TTD 7.938522
TWD 34.092991
TZS 3091.795081
UAH 49.001822
UGX 4201.454453
USD 1.171049
UYU 47.007954
UZS 14866.470538
VES 130.317003
VND 30617.084439
VUV 138.685518
WST 3.03537
XAF 655.081163
XAG 0.031848
XAU 0.000351
XCD 3.164819
XDR 0.811651
XOF 652.274564
XPF 119.331742
YER 283.569864
ZAR 20.914666
ZMK 10540.846381
ZMW 28.372067
ZWL 377.077403
  • CMSC

    0.0900

    22.314

    +0.4%

  • CMSD

    0.0250

    22.285

    +0.11%

  • RBGPF

    0.0000

    69.04

    0%

  • SCS

    0.0400

    10.74

    +0.37%

  • RELX

    0.0300

    53

    +0.06%

  • RIO

    -0.1400

    59.33

    -0.24%

  • GSK

    0.1300

    41.45

    +0.31%

  • NGG

    0.2700

    71.48

    +0.38%

  • BP

    0.1750

    30.4

    +0.58%

  • BTI

    0.7150

    48.215

    +1.48%

  • BCC

    0.7900

    91.02

    +0.87%

  • JRI

    0.0200

    13.13

    +0.15%

  • VOD

    0.0100

    9.85

    +0.1%

  • BCE

    -0.0600

    22.445

    -0.27%

  • RYCEF

    0.1000

    12

    +0.83%

  • AZN

    -0.1200

    73.71

    -0.16%

Trump tariff threat clouds final day of BRICS summit

Trump tariff threat clouds final day of BRICS summit

US President Donald Trump's decision to hit "anti-American" BRICS nations -- including China and India -- with an extra 10 percent trade tariff roiled the final day of the bloc's summit in Rio de Janeiro Monday.

Text size:

Trump threatened the 11-nation grouping -- which includes some of the world's fastest-emerging economies -- late on Sunday, after they warned against his "indiscriminate," damaging and illegal tariff hikes.

"Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff," Trump wrote on social media.

BRICS members account for about half the world's population and 40 percent of global economic output.

Members China, Russia and South Africa responded coolly to Trump's latest verbal barrage, insisting the bloc was not seeking confrontation with Washington.

But host Brazil's leftist President Luiz Inacio Lula da Silva was less diplomatic.

"We are sovereign nations," Lula said. "We don't want an emperor."

Conceived two decades ago as a forum for fast-growing economies, BRICS has come to be seen as a Chinese-driven effort to curb US global influence.

But it is a quickly expanding and often divergent grouping -- bringing together arch US foes like Iran and Russia, with some of Washington's closest allies in Latin America, the Middle East, Africa, and Asia.

Some US allies inside the bloc had tried to blunt criticism of Trump by not mentioning him or the United States by name in the summit statement.

Saudi Arabia -- one of the biggest purchasers of US high-tech weapons -- even kept its foreign minister away from Sunday's talks and a BRICS group photo, seemingly to avoid Washington's ire.

But such diplomatic gestures were lost on the US president who said "there will be no exceptions to this policy."

- No shows -

In April, Trump threatened a slew of punitive duties on dozens of economies, before backing off in the face of a fierce market sell-off.

Now he is threatening to impose unilateral levies on trading partners unless they reach "deals" by August 1, with BRICS nations seemingly faced with higher tariffs than planned.

It cannot have helped that BRICS leaders also condemned the recent US and Israeli bombing of Iran's nuclear facilities -- a show of solidarity with fellow member Iran.

Beijing on Monday insisted BRICS was not seeking confrontation with the United States.

"China has repeatedly stated its position that trade and tariff wars have no winners and protectionism offers no way forward," foreign ministry spokeswoman Mao Ning said.

Beijing also defended the bloc as "an important platform for cooperation between emerging markets and developing countries."

"It advocates openness, inclusivity, and win-win cooperation," Mao said.

"It does not engage in camp confrontation and is not targeted at any country," she added.

The Kremlin echoed that message with spokesman Dmitry Peskov telling Russian media that BRICS cooperation "has never been and will never be directed against third countries."

The political punch of this year's summit has been depleted by the absence of China's Xi Jinping, who skipped the meeting for the first time in his 12 years as president.

The Chinese leader is not the only notable absentee. Russian President Vladimir Putin, charged with war crimes in Ukraine, also opted to stay away, participating via video link.

He told counterparts that BRICS had become a key player in global governance.

D.Kovar--TPP