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Nigeria is at risk of being slapped at an extra 10% rate because US President Donald Trump has warned that countries that favor the BRICS alliance policy that are contrary to US interests will be hit by an additional 10% tariff.
Trump makes this known on his social media platform, truth.
The US president has become a long -term critic of BRICS, an organization whose members include Brazil, Russia, India, China and South Africa.
“Every country that is in harmony with the Anti-American bric policy will be charged an additional 10%rate. There will be no exception for this policy,” he wrote.
Meanwhile, Nigeria continued to encourage the full membership of the alliance, in January, Nigeria joined Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan as the ninth partner state of BRICS after the partners of the alliance partners were created in the 16th BRICS Kumul BRICS.
Ball President Ahmed Tinubu is currently attending the 17th BRICS Summit in Rio de Janeiro, Brazil.
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At the Saturday Summit on Saturday in Rio de Janeiro, Brazil, the President stated that environmental degradation, climate crisis, and inequality of health services must receive more attention, because they contribute to slowing growth and development.
President Tinubu, who was invited to the Summit by Brazilian President Luiz Inacio Lula Da Silva, stated that Nigeria supported the position of BRICS about the need to focus on the development of collective, just and fair global development.
The US has set a deadline for July 9 for countries to approve trade agreements, but US officials now say the tariff will begin on August 1. Trump said he would send a letter to the countries that told them what were the tariffs if the agreement was not reached.
Since serving in January, Trump has announced a series of import rates on goods from other countries, with the reason they will increase American manufacturing and protect work.
In April, on what he called “Liberation Day”, he announced a new wave of tax on goods from countries around the world – with some as high as 50% – although he quickly suspended his most aggressive plan to allow discussions for three months to 9 July.
During this period, the US applied a 10% tariff on goods entering the state of most of its international trading partners.
So far, the US has only reached a trade agreement with Britain and Vietnam, as well as partial agreement with China.
By: Babajide Okeowo
