President of the US Donald Trump on Tuesday mentioned that BRICS nations, together with India, should pay a ten% tariff as a part of the grouping. Trump mentioned that BRICS was made to harm the US and devalue the US greenback. He additionally reiterated that the August 1 deadline is remaining and there will not be an extra extension for nations failing to seal a commerce take care of the US.
“They (India) will definitely should pay 10% if they’re in BRICS as a result of BRICS was set as much as harm us, to degenerate our greenback…The Greenback is king. We’re going to preserve it that method. If individuals wish to problem it, they’ll. However they should pay an enormous worth. I do not suppose any of them are going to pay that worth,” mentioned Trump whereas responding to media questions.
He additional mentioned, “It has at all times been August 1 (deadline)…Tariffs are charged by different nations at ranges which can be ridiculous. I referred to as these different nations, and now everyone seems to be prepared to present us every part…For years, they ripped us off and we did not have a President that understood it…”
Earlier, Trump introduced on the social media platform Fact Social that tariffs will come into impact on August 1, 2025, and have to be paid with none extensions. “As per letters despatched to numerous nations yesterday, along with letters that will probably be despatched immediately, tomorrow, and for the following brief time frame, TARIFFS WILL START BEING PAID ON AUGUST 1, 2025. There was no change to this date, and there will probably be no change. In different phrases, all cash will probably be due and payable beginning AUGUST 1, 2025 – No extensions will probably be granted. Thanks in your consideration to this matter!” he posted.
Clarifying the intent behind these measures, US President Donald Trump mentioned, “We’re at all times topic to negotiations when one thing is truthful, however we have talked to many of the nations. Just about they’ve had their method for a lot of, many a long time. It was time that we simply needed equity. This isn’t actually equitable from our standpoint as a result of this can be a small token by comparability to damages been achieved over time however we had no different president that was prepared to do that, however I did it.”
When requested if he’s agency on his August 1 deadline for US tariffs, US President Donald Trump says, “I’d say agency however not a 100 per cent agency. In the event that they name up they usually say we wish to do one thing otherwise, we will probably be open to that,” he added. Trump additionally confirmed that his administration had despatched letters to 14 nations informing them of the reciprocal tariffs set to take impact from August 1.