Donald Trump proposes 10% tariffs on BRICS-aligned countries amidst geopolitical tensions.
- Donald Trump threatens tariffs on BRICS-aligned countries.
- Proposed 10% tariff on non-compliant nations.
- No official response from BRICS leadership yet.
Summon all resources together
Donald Trump announces a 10% tariff on countries aligning with BRICS’ anti-American policies, starting Monday at 12pm ET.
Trump’s 10% Tariff Targets BRICS Nations
Former U.S. President Donald Trump has threatened an additional 10% tariff on countries aligning with BRICS. This move coincides with the expiration of a 90-day tariff pause.
“Any country aligning themselves with the anti-American policies of BRICS, will be charged an additional 10% tariff. There will be no exceptions to this policy.” — Donald Trump, President, United States
Countries targeted are those supporting BRICS‘ anti-American positions. BRICS leaders, including China’s Premier Li Qiang, discussed opposing U.S. military actions at their summit. More background can be found on the Fifth BRICS Summit.
Potential Global Market Volatility from Tariffs
The threatened tariffs may influence global markets, especially nations with strong U.S. trade ties. Indirect effects on cryptocurrencies are anticipated if relations deteriorate.
Financial markets might experience heightened volatility. Potential impacts on USD-centric stablecoins and cross-border DeFi flows signify wider economic implications.
Echoes of 2018-2019 Tariff Wars in Current Climate
This situation mirrors Trump’s tariff escalations from 2018–2019, which led to increased market volatility. Cryptocurrencies often benefited as alternative investments during similar periods.
Future outcomes could include observable shifts in cryptocurrency markets. Observers suggest dollar alternatives might be more relied upon as BRICS tensions escalate.
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