Experts assessed the impact of the US duties on the BRICS-supporting countries

The introduction of additional duties by the United States against countries that support the BRICS policy may provoke serious shocks in the global economy. Denis Astafyev, fund manager and founder of the SharesPro fintech platform, and Kristina Tancyura, CEO, Managing partner of SKY Consulting Group, an expert on business development in the Middle East, and head of the committee for work with the UAE and the Persian Gulf countries of the Association of Exporters and Importers, told Izvestia on July 7.

Earlier it was reported that US President Donald Trump announced that he plans to impose additional duties of 10% on countries that support the BRICS policy. He added that there would be no exceptions to this rule.

"The introduction of additional duties by the United States is a technically and legally feasible measure, but it poses serious risks to the global economy and the international trade system," Astafyev warned.

According to him, in response, the BRICS countries are likely to take mirror measures, which could provoke an escalation of trade wars, accelerated inflation and a slowdown in global economic growth.

Experts have no doubt that Trump may take such a step.

"Whether Trump will impose additional trade duties on the BRICS—supporting countries is more of a rhetorical question, because he does what he wants. If he does put his words into action, it will mean retaliatory duties from friendly BRICS countries, and there are quite a few of them," she stressed.

Tancyura noted that consumers will be the main victims of trade restrictions, as businesses will be forced to increase prices for goods and services.

Control purchase: BRICS countries' domestic trade reached $1 trillion

What are the priorities of the unification states now?

Bloomberg, citing sources, reported on July 4 that the heads of the BRICS countries intend to make a negative statement regarding unilateral coercive economic measures at the end of the summit in Rio de Janeiro. It was clarified that we are most likely talking about duties imposed by Trump, but the draft statement prepared for the meeting in Brazil does not mention specific countries.