Brics summit: Leaders criticise Trump's tariffs, warn of global economic impact

India Today

The Brics summit in Rio de Janeiro, Brazil, attended by Prime Minister Modi, has sparked a global economic debate. BRICS leaders criticised Donald Trump's tariff policies, warning they could destabilise the world economy and distort trade.

Transcript

00:00Well, it's BRICS versus Trump again.

00:03In Rio de Janeiro, in Brazil, the BRICS summit is taking place, which was attended by Prime Minister Modi.

00:09During the summit, BRICS leaders attacked Donald Trump.

00:13BRICS said that Trump's tariff might shake the world's economy.

00:17They claim that Trump's bill is also inconsistent with international laws.

00:22They say that Trump's tariffs may distort trade.

00:25Now, Trump has hit back at BRICS and reiterated the warnings of a hike in tariffs.

00:31Trump says any country that pursues anti-American policies will face an additional tariff of 10%.

00:39China has hit back at Trump.

00:41They say that BRICS' mechanism is important for developing nations.

00:46They claim that BRICS promotes openness and inclusiveness and does not target any nation.

00:51How about BRICS?

00:55You know, the BRICS states are like six of them, and they were trying to destroy our dollar.

00:59They were going to say, you know, they wanted to create a new currency.

01:02They probably wanted to use the yuan in China.

01:04They wanted to use the yuan.

01:07And Biden said, well, this is a tough situation.

01:10There's not much we can do about that.

01:11We can't help that.

01:12I said, well, we can help it.

01:13So when I came in, the first thing I said is, any BRICS state that even mentions the destruction of the dollar will be charged a 150% tariff.

01:23And we don't want your goods.

01:25We don't want to partake.

01:26And the BRICS states just broke up.

01:28I don't know what the hell happened to them.

01:29We haven't heard from the BRICS states lately.

01:31BRICS is an important platform for cooperation among emerging markets and developing countries.

01:37It advocates openness, inclusiveness, and win-win cooperation.

01:40It is not a block for confrontation, nor does it target any country.

01:44On the U.S. tariff hikes, China has made its position clear more than once.

01:48Trade war and tariff war have no winners, and protectionism leads nowhere.

01:52Trade war and tariff hikes, China has made its position clear.

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