By: Getahun Tsegaye
Staff Reporter
Addis Ababa, Ethiopia – U.S. President Donald Trump has threatened with extra 10% tariff on BRICS nations, warning of punitive trade measures for countries aligning with what he calls the bloc’s “anti-American policies.” This declaration comes as Ethiopian Prime Minister Abiy Ahmed attends the 17th BRICS summit in Rio de Janeiro, Brazil.
The goal of the two-day summit, which ends on Monday, is to reform global governance. Along with Brazil, Russia, India, China, South Africa, Saudi Arabia, Egypt, Iran, the United Arab Emirates, and Indonesia, BRICS currently has 11 members, including Ethiopia, which joined in January 2024.
“The BRICS platform remains vital in advancing shared development and global cooperation,” Prime Minister Abiy Ahmed said during the meeting. Abiy’s visit included bilateral discussions on trade and investment with Brazilian President Luiz Inácio Lula da Silva and on AI, logistics, and clean energy with Chinese Premier Li Qiang.
Prime Minister Abiy Ahmed emphasized the urgent need to reform international financial institutions and decision-making processes at the start of the summit in order to promote effective international cooperation and mutual trust. Abiy urged inclusive reforms that promote shared prosperity and collective security, according to a statement from the Office of the Prime Minister.
“BRICS has grown from a bold idea into a dynamic force for global transformation. With the addition of new members, our collective voice grows stronger, our shared purpose becomes clearer, and our potential expands,” the statement read, remarking on Abiy’s speech.
The president has repeatedly threatened BRICS nations, first doing so after his election win last November. In June, he warned of a 100% tariff if they replaced the U.S. dollar as a reserve currency. This followed a Russian BRICS summit report urging a reassessment of the dollar’s global dominance.
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