Trump threatens BRICS allies with new tariffs
On Monday, US President Donald Trump threatened an additional 10% tariff on any nation supporting what he labeled the 'anti-American policies' of BRICS, as the group wrapped up its annual summit in Brazil.
'There will be no exceptions to this policy,' Trump declared on Truth Social, without specifying which policies he meant.
His threat followed a BRICS joint statement in Rio de Janeiro reaffirming their commitment to a rules-based, transparent, and non-discriminatory multilateral trading system centered on the World Trade Organization.
In Washington, Treasury Secretary Scott Bensent also confirmed the new tariffs would take effect August 1 unless targeted countries reach trade agreements with the US beforehand.
Trump had already announced sweeping tariff hikes in April, ranging from 10% to 50% on nations running trade surpluses with the US. Those measures were paused for negotiations, with a final deadline set for July 9.
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