President of the US Donald J. Trump delivers remarks to a crowd at an America250 rally in Des Moines, Iowa, United States, on July 3, 2025.
Kyle Mazza | Anadolu | Getty Photographs
U.S. President Donald Trump has threatened an extra 10% tariff on nations that orient themselves alongside the “Anti-American insurance policies of BRICS.”
Trump’s announcement, which didn’t elaborate on any particular coverage of BRICS, got here because the group’s assembly is underway in Rio de Janeiro, Brazil.
The bloc’s leaders took intention at Trump’s sweeping tariff insurance policies in a joint assertion dated July 6, warning in opposition to “unjustified unilateral protectionist measures, together with the indiscriminate improve of reciprocal tariffs.”
With out calling out the U.S., the leaders voiced “severe considerations in regards to the rise of unilateral tariff and non-tariff measures which distort commerce and are inconsistent with WTO guidelines,” warning that the “proliferation of trade-restrictive actions” threaten to disrupt the worldwide financial system and worsen the prevailing financial disparities.
“Any Nation aligning themselves with the Anti-American insurance policies of BRICS, shall be charged an ADDITIONAL 10% Tariff. There shall be no exceptions to this coverage,” Trump mentioned in a put up on Fact Social Sunday night stateside.
The BRICS group of creating nations additionally supplied symbolic backing to fellow member, Iran, condemning a sequence of army strikes on the nation, with out naming Israel or the uswhich carried out the army operation.
BRICS consists of Brazil, Russia, India, China, South Africa, Saudi Arabia, Egypt, United Arab Emirates, Ethiopia, Indonesia and Iran. The bloc describes itself as “a political and diplomatic coordination discussion board for nations from the World South and for coordination in essentially the most numerous areas.”
This 12 months, Chinese language President Xi Jinping despatched Premier Li Qiang to the assembly in his absence, whereas Russian President Vladimir Putin, who faces an arrest warrant from the Worldwide Legal Court docket, attended on-line.
BRICS objectives embrace bettering financial, political and social cooperation amongst its members, and “growing the affect of World South nations in worldwide governance.”
The bloc seeks to problem Western-dominated establishments of world financial governance, in addition to to supplant the U.S. greenback’s position within the international financial system, in keeping with the Carnegie Endowment for Worldwide Peace.
Individually, Trump confirmed that the U.S. will begin delivering letters on Monday, detailing country-specific tariff charges and any agreements reached with varied buying and selling companions. That affirmed Treasury Secretary Scott Bessent’s feedback over the weekend.
The Trump administration has mentioned that tariffs introduced in April will take impact on Aug. 1, as an alternative of July 9, for nations that haven’t reached an settlement with the U.S.
Bessent rejected the concept that Aug. 1 was one more new tariff deadline. “We’re saying that is when it is taking place, if you wish to pace issues up, have at it, if you wish to return to the outdated price that is your alternative,” Bessent mentioned Sunday on CNN’s “State of the Union.”
In April, Trump introduced a 90-day pause on the steep tariffs he had unveiled simply days prior on most buying and selling companions. That pause is because of expire on Wednesday, sparking concern amongst traders and U.S. buying and selling companions.
— CNBC’s Erin Doherty, Lim Hui Jie contributed to this story.
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