Trump Threatens New Tariffs on "Anti-American" BRICS-Aligned Nations
Donald Trump has warned that countries aligning with what he calls the "anti-American policies" of the BRICS bloc will face an extra 10% tariff on exports to the US. The warning comes just as the 90-day pause on his April tariff hikes is set to expire. Trump said letters outlining new tariff levels will go out this week to nations without trade deals, adding, “There will be no exceptions to this policy.”
The BRICS group, which now includes Brazil, Russia, India, China, South Africa, Egypt, Iran and others, met in Brazil and condemned unilateral tariffs and recent strikes on Iran, though they didn’t name the US directly. China and India were represented in person, while Russia’s Vladimir Putin joined virtually. Trump’s move follows BRICS discussions about reducing reliance on the US dollar and reforming global institutions, stances Trump sees as hostile to US interests.
So far, the US has only secured trade deals with the UK, China, and Vietnam. Treasury Secretary Scott Bessent warned that countries who are still negotiating that if they don’t act fast, they’ll “boomerang back” to the steeper April tariffs starting on August 1st. Meanwhile, markets responded with minor shifts: the dollar rose slightly, metals dipped, and the yuan weakened after Trump’s Sunday night post.
