HomeNewsSouth Africa's 50% car tariffs on China, India expose BRICS rifts members...

South Africa’s 50% car tariffs on China, India expose BRICS rifts members vie for US deals

-

Recently, South Africa said it may impose 50% tariffs on cars imported from China and India. The move aims to protect domestic auto manufacturing and address rising import volumes, as reported.

The step has prompted renewed questions about unity inside BRICS and members’ mutual trust. Several members now appear to compete for favorable trade terms with the United States.

Separately, India invested about $10 billion in rare-earth mining to cut dependence on China, as reported. That investment and the tariff proposal illustrate diverging national priorities among bloc members.

These actions contrast with summit declarations of cooperation and show limits to practical bloc-wide integration (Ed. note: the tariff plan may complicate BRICS’ stated goals).

LATEST POSTS

Morgan Stanley Updates Bitcoin ETF Filing, Names Coinbase and BNY Mellon as Custodians

In a significant institutional move, Morgan Stanley has updated its application for a Bitcoin investment trust with the SEC. The amended filing, submitted on March...

Bitcoin Cash Nears $465 Resistance as Traders Eye Potential Breakout Toward $500

Bitcoin Cash (BCH) is testing a critical resistance level at $465 as traders watch for a breakout toward $500. Analyst Marcus Corvinus highlights a rebound...

BRICS Backs Iran, Global Markets Plunge; India Stays Silent Ahead of 2026 Summit

Amid heightened tensions from the Israel-Iran-US conflict, global stock markets have plunged for two consecutive days, with Asian indices like Hong Kong's Hang Seng and...

U.S. Ethereum ETFs See $169M Inflow, Highest in Two Months, as Price Rises Above $2,130

U.S. spot Ethereum ETFs recorded their largest single-day inflow since mid-January this week, attracting $169 million. This surge in institutional demand coincided with a 4.3%...

Most Popular

spot_img