The president's statement comes as the trading bloc including Brazil, Russia, India, China, and South Africa (BRICS) is meeting in Rio de Janeiro this week.

As the world frays under trade wars, resource conflicts and the US credibility unravels under the weight of its own aggressive exceptionalism, BRICS declared that the emperor has no clothes and the Global South was done waiting for crumbs from imperial banquet tables.

Most nations are still negotiating in hopes of avoiding punitive import taxes. At the same time, they’re looking for trading partners as a way around the United States.

Trump has previously threatened tariffs on the BRICS countries, apparently in response to efforts to undermine the dollar. In November 2024, he posted on Truth Social a threat to issue a 100% ...

Trump has previously threatened tariffs on the BRICS countries, apparently in response to efforts to undermine the dollar. In November 2024, he posted on Truth Social a threat to issue a 100% ...

By Jarrett Renshaw, Bhargav Acharya and Cassandra Garrison WASHINGTON/MEXICO CITY (Reuters) -President Donald Trump on Saturday threatened to impose a 30% tariff on imports from Mexico and the European Union starting on August 1,