In a dramatic escalation of U.S. commerce coverage, President Donald Trump has introduced sweeping new tariffs concentrating on nations he accuses of aligning with the rising BRICS alliance — together with Nigeria.
The brand new directive imposes a further 10% levy on imports from nations seen as “backing anti-American insurance policies,” Trump declared early Monday in a press release posted on his Reality Social platform.
“There might be no exceptions to this coverage,” he warned, calling the transfer “non-negotiable” and aimed toward preserving U.S. {economic} supremacy.
The choice marks a transparent rebuke to the increasing affect of BRICS, an {economic} bloc initially made up of Brazil, Russia, India, China, and South Africa, however which has quickly welcomed new members like Iran, Egypt, Ethiopia, the UAE, and most just lately, Indonesia.
Nigeria, although not but a full member, joined BRICS as a accomplice nation earlier this 12 months and is actively campaigning for full membership. Different new companions embody Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan — all of that are anticipated to be affected by the brand new tariffs.
Since returning to workplace in January, Trump has doubled down on aggressive commerce protectionism. Considered one of his early strikes was a 14% tariff on Nigerian exports. The newest 10% hike provides additional strain on the West African nation, which continues to be navigating a fragile post-COVID {economic} restoration.
“These tariffs are about placing America first — once more,” Trump stated, urging affected nations to barter bilateral commerce offers on U.S. phrases. “They will take it or go away it,” he added.
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Brazilian officers on the ongoing BRICS international ministers’ assembly in Rio de Janeiro voiced “severe concern” over rising world {economic} polarization. Nevertheless, the assertion was delivered by Brazil alone, underlining rising divisions throughout the bloc over how to answer the U.S. problem.
Critics have warned that Trump’s technique might backfire, isolating the US and accelerating the BRICS push for a brand new world {financial} order. However the White Home insists the transfer is important to “defend American industries, jobs, and sovereignty.”
In the meantime, Nigerian commerce officers have but to challenge a proper response, however {economic} analysts in Lagos described the brand new tariffs as a serious blow to Nigerian exporters already struggling beneath inflation and foreign money instability.
“This might hurt Nigeria’s commerce ambitions throughout the World South and complicate its ongoing BRICS accession,” stated one skilled. “Nevertheless it additionally alerts the stakes of selecting between U.S. affect and the rising multipolar order.”
The worldwide commerce panorama seems poised for additional turbulence as Washington and BRICS nations brace for what could possibly be a defining standoff of this new {economic} period.
