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Donald Trump repeats 100% tariff warning to India, other BRICS countries amid PM Modi's US visit
India is a member of the BRICS grouping with Brazil, Russia and South Africa, which has got repeated warnings from US President Trump of 100 per cent tariffs.
BRICS trading could be 100 per cent tariff at least, said US President Donald Trump after he announced his reciprocal tariff plan on Thursday, stating that United States would charge countries same rates they impose on US.
Donald Trump, while revealing his reciprocal tariff plan on Thursday, said ‘India has more tariffs than nearly any other country’. Follow PM Modi US visit LIVE updates
India is a member of the BRICS grouping with Brazil, Russia and South Africa, which has got repeated warnings from the newly sworn in US President of 100 per cent tariffs in case the group replaces the US dollar as a reserve currency.
"If any trading gets through, it'll be 100 per cent tariff, at least," Donald Trump said on Thursday in response to a question about the BRICS countries setting up their own currency.
Also Read | ‘India has most tariffs’: Trump announces ‘eye for an eye’ reciprocal taxes
US President Donald Trump on Thursday directed his administration to explore the possibility of imposing reciprocal tariffs on several trading partners, signaling the potential for a broader campaign against a global trade system he argues is unfair to the United States.
Trump's tariff plan
On Thursday, the president signed an executive order instructing the US Trade Representative and the Commerce Secretary to propose new tariffs on a country-by-country basis, aiming to rebalance trade relations.
We will charge any country that charges us, said Donald Trump, announcing reciprocal tariffs.
"No more or no less… They charge us a tax or tariff, and we charge the exact same tax or tariff… no body knows what that number is… you go to an individual country and see what they are charging us," Donald Trump said.
According to a senior White House official, this extensive process of reciprocal tatiffs could take weeks or even months to complete, with no definitive timeline for when the tariffs would be implemented.
