Trump announces additional 10% tariff as trade deadline looms
Donald Trump
has announced that countries that align themselves with those that support the "anti-American" policies of BRICS will face an
additional 10% tariff
on goods. In addition, Trump also posted that his administration is poised to start sending letters to those countries who have
not secured a trade deal
ahead of the July 9 deadline.
Taking to his Truth Social platform late Sunday night, the president wrote, "Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an
ADDITIONAL 10% Tariff
." He added that there would be "no exceptions to this policy."
Prior to that, Trump
also posted a message
saying that letters would be delivered to various countries on Monday. "I am pleased to announce that the UNITED STATES TARIFF Letters, and/or Deals, with various Countries from around the World, will be delivered starting 12:00 P.M. (Eastern), Monday, July 7th," he wrote.
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In addition, Trump also posted that his administration is poised to start sending letters to those countries who have not secured a trade deal ahead of the July 9 deadline.
(Image: Anadolu via Getty Images)
The increased tariff on the intergovernmental organization comprising Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates comes as the Trump administration seeks to establish trade deals with various countries worldwide.
Trump was previously slammed as a "buffoon" on social media
as he revealed his plans to impose new levies on "probably 12" countries
. Several X users lit into Trump about his trade policies on social media, as well as made fun of the White House's backing out of deals.
According to Trump, there would be "no exceptions to this policy."
"This buffoon is President of the United States," growled one person on the social media site. "ABSOLUTELY DISGRACEFUL," a second added.
Other users mentioned how his administration imposed tariffs
on an island inhabited only by penguins back in April.
In an interview on Air Force One, Trump told reporters, "probably 12" letters relating to "different amounts of money, different amounts of tariffs."
Trump was previously slammed as a "buffoon" on social media as he revealed his plans to impose new levies on "probably 12" countries.
(Image: Anadolu via Getty Images)
He said he will reveal the countries on Monday. It comes as
Melania was seen trying to leave Trump's rambling balcony speech
. Trump
also went on a rant about running water in showers and dishwashers
earlier this week, bizarrely claiming that "water comes down from heaven" while addressing reporters at a conference.
"It'll take months for the letter to get to the Penguin island," the user joked. According to a new analysis, a critical group of U.S. employers would face a direct cost of $82.3 billion should Trump enact his current tariff plan.
The analysis by the JPMorgan Chase Institute is among the first to measure the direct costs created by the import taxes on businesses with $10 million to $1 billion in annual revenue, a category including roughly a third of private-sector U.S. workers.
Findings show clear trade-offs from Trump's import taxes, contradicting his claims that foreign manufacturers would absorb the costs of the tariffs instead of U.S. companies that rely on imports. While the tariffs launched under Trump have yet to boost overall inflation, large companies such as Amazon, Costco, Walmart and Williams-Sonoma delayed the potential reckoning by building up their inventories before the taxes could be imposed.
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