BRICS vs US: How Members Are Being Targeted One-By-One
The gloves are off, and it’s officially BRICS vs the US in the trade wars ignited by President Donald Trump. India was first slapped with 25% tariffs, and Trump increased it to 50% on Wednesday. The 50% tariffs were also imposed on Brazil, leaving the alliance reeling on what steps to take next. Trump has systematically targeted the bloc one-by-one citing their procurement of Russian crude oil as the main reason. India and Brazil have been buying Russian oil at discounted prices due to the sanctions. In this article, we will highlight the tariffs imposed by Trump in the ongoing BRICS vs US trade war. Also Read: Malaysia Attracts $25 Billion in BRICS Investments Tariffs, Powerplay, and Trade Wars: It’s Officially the US vs BRICS Brazil Source: CNBC BRICS vs US began on Liberation Day and has only intensified since then. Brazil is among the countries with the highest tariffs, with 50% duties being charged on the movement of goods. President Lula da Silva said that he will not ...