The President of the Federal Bank of Richmond and CEO Tom Parkin explains the impact of President Donald Trump’s economic policy on the market on the “Country count”.
president Donald Trump He threatened to strike members of the Brexes Alliance-including China, Russia and India-with an additional tariff of 10 % for being “hostile to the United States”.
His announcement came when the coalition was hosting its annual summit in Rio de Janeiro, Brazil.
“Any country is in line with the Brex policies against America, an additional tariff will be charged with an additional 10 %. There will be no exceptions to this policy.”
Such a threat will represent the first time that Trump puts a tariff for Russia during his second presidency – the nation avoided drawings during the “Tahrir Day” tariff for Trump, as trade with Russia has already decreased 90 % since its invasion of Ukraine.
President Donald Trump threatened the strike of the members of the Brexes Alliance-including China, Russia and India-with an additional 10 % tariff for being “hostile to America”. ((AP Photo/EVAN VCCI))
Brix, alliance Brazil, China, India, Russia and South Africa expanded to include Indonesia, Iran, Egypt, Ethiopia and the United Arab Emirates last year as a parallel cosmic of international institutions in the West.
Fox News Digital communicate with the alliance to comment.
The bloc leaders seemed to aim at Trump in a statement on Sunday night, which summoned the tariffs and strikes against Iran.
Without Iran or the United States directly, the statement considered attacks on “civil infrastructure and peaceful nuclear facilities” as “a violation of international law and decisions related to the International Atomic Energy Agency.”
The statement also expressed “serious concerns” about “non -single and non -carrier tariffs”, while it stopped naming Washington.
The Trump tariff, which was placed on a temporary stop in April, to make time to make trade deals, will be valid on August 1, which is absent from any solid agreements.
The definitions will return to April level
Iranian and Egyptian foreign leaders in the United Arab Emirates at the Brexes Summit in Brazil (Reuters/Ricardo Mora)
So far, the United States has only made initial trade deals with the United Kingdom and Vietnam.
But Trump said on Monday that the United States will start sending messages that offer final touches on commercial deals with various countries on Monday.
In response to Trump’s threat, Chinese Foreign Minister Mao Ning said that the coalition had been formed as a means of “cooperation”, not “confrontation” and Repeat the assertion that China It is believed that there are no winners in commercial wars.
Brazilian President Louise Inacio Lula da Silva, the left, and Indian Prime Minister Narendra Modi, right, at the summit that started on Sunday. (Reuters/Pillar Olivares)
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The BRICS Alliance mentioned its intentions to reduce the domination of the dollar in global markets, and may be transferred to an alternative digital currency or trading in local currencies.
In June, Trump warned that if the BRICS countries replace the dollar as a backup currency, it will impose a 100 % tariff.
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