US President Donald Trump warned that the US will impose an additional 10 per cent tariff on any country aligning with BRICS, as the bloc of developing nations launched its summit in Brazil on Sunday. The move followed a joint BRICS statement criticising rising tariffs and protectionism, widely seen as a rebuke of US trade policy. Speaking in Rio de Janeiro, Brazilian President Luiz Inacio Lula da Silva framed BRICS as the successor to the Cold War-era Non-Aligned Movement, urging reforms to global institutions like the UN Security Council and the IMF. He warned that multilateralism is under threat and BRICS must help reflect today's multipolar world. The group — originally Brazil, Russia, India, China, and South Africa — recently expanded to include Egypt, Ethiopia, Iran, Indonesia, and the UAE. BRICS now represents over half the global population and 40 per cent of global output. More than 30 countries have expressed interest in joining. The joint communiqué condemned Israeli strikes on Gaza, raised concern over Kashmir, supported Iran and Ethiopia's bids to join the WTO, and called for AI safeguards. The group also approved a new BRICS guarantees scheme to lower financing costs and boost investment. Meanwhile, China and the UAE discussed contributing to Brazil's global forest conservation fund. Trump did not clarify what he meant by "anti-American policies," but said the 10 per cent tariff would apply to all nations siding with BRICS, with "no exceptions." Attribution: Reuters Subediting: M. S. Salama
