Trump has announced that countries that defend what he calls the BRICS Group’s “anti-American policy” will face 10% tariffs on imports from the US.
“An additional 10% tariffs will be charged for countries that are in line with BRICS’ anti-American policies. There are no exceptions to this policy.”
His statement It came when leaders of BRICS countries attended a Brazilian summit. The group covers Russia, China, Brazil, South Africa, India, Egypt, Saudi Arabia, UAE, Ethiopia, Iran and Indonesia. BRICS is a forum for “political and diplomatic coordination” among global Southern countries, and believes it works together across a wide range of issues.
With Chinese President Xi in the absence, Prime Minister Li represented China at the rally, and Vladimir Putin joined via video link.
In another announcement, Trump said letters will begin on Monday covering details of the specific tariff levels faced by countries and the trade deals the administration has reached. According to Trump, these letters will set clear deadlines for negotiations and commitments.
He added that the US is on the crisis of several trade deals. Other countries have officially been notified of high tariffs by July 9th, with a new rate of increase scheduled for August 1st.
When asked for details, Commerce Secretary Lutnick told reporters that the tariff increase would kick on August 1, but Trump told him he was “setting up the fees and deals now.”
Previously, in April, Trump outlined a 10% base rate for most imports, with additional duties reaching 50% for certain products. He then postponed implementation of rates above 10% until July 9th, giving the country an extra three weeks to an agreement with Washington.
Many trade transactions are expected soon
The US Treasury Secretary Bessent spoke of CNN’s “Confederation Status” Sunday, saying a series of important trade announcements are expected soon. He noted that discussions with the EU are on track.
Bescent too I explained it Trump plans to send letters to around 100 small trading partners, informing them that if there is no agreement, their tariffs will first be set on April 2nd and return to a higher level that was delayed until July 9th. “If things don’t move, we’ll return the boomerang to the tariff levels of April 2 on August 1st,” he said, adding that these deadlines should spur quick deals.
Since returning to the oval, Trump’s tariff measures have sparked international trade disputes, urging many governments to seek safeguards and new agreements within the United States, and among them, and has destabilized financial markets.
Kevin Hassett, head of the White House National Economic Council, said there is flexibility in countries that are “facing the people” and are making good progress in negotiations. “There are deadlines and some are near,” he said.
Trump himself has repeatedly shown that India is approaching an agreement and has expressed optimism about reaching a trade deal with the EU, maintaining doubt about the outlook for a trade deal with Japan.
In Southeast Asia, Thailand moved quickly to avoid the looming 36% tariff. Meanwhile, Indian news channel CNBC-TV18 reported on Sunday that New Delhi and Washington are expected to decide on a modest trade agreement within 24-48 hours.
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