Trump Warns Extra 10% Tariff on Countries Supporting BRICS

Former U.S. President Donald Trump has warned that any country supporting the policies of BRICS that go against American interests will face an additional 10% tariff.

Trump made this statement on social media, saying, “Any country aligning themselves with the Anti-American policies of BRICS will be charged an ADDITIONAL 10% tariff. There will be no exceptions to this policy.”

Trump has long criticized BRICS, an alliance that originally included Brazil, Russia, India, China, and South Africa, but has recently expanded to include countries like Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia, and the United Arab Emirates.

Together, these nations represent more than half of the world’s population and are pushing for greater global influence, often challenging the dominance of the U.S. and its allies.

Trump’s administration set a deadline of July 9 for countries to reach trade agreements with the U.S. However, Commerce Secretary Howard Lutnick confirmed that tariffs will officially begin on August 1. Trump said that around 10 to 15 countries would receive letters detailing their new tariff rates if no agreements are made.

As of now, the U.S. has reached trade deals only with the UK and Vietnam, and a partial agreement with China.

The UK deal reduces car tariffs from 27.5% to 10% for up to 100,000 vehicles, while Vietnam agreed to a 20% tax on its goods, with U.S. products entering Vietnam tariff-free. Goods shipped through Vietnam from third-party countries will be taxed at 40%.

In April, Trump introduced new import taxes, with some rates as high as 50%, but paused the most aggressive measures to allow time for negotiations. Since then, most countries trading with the U.S. have faced a 10% tariff. The European Union is negotiating to maintain this rate while trying to lower tariffs on cars, steel, and aluminum.

Trump has also warned Japan it could face tariffs of up to 35% if a deal is not reached soon. Speaking to reporters, he said, “They’re going to be tariffs. The tariffs are going to be tariffs.”

Treasury Secretary Scott Bessent mentioned that several countries have submitted new offers. “My mailbox was full last night with new proposals,” he said, suggesting that some nations are now more willing to negotiate.

Following a BRICS meeting in Brazil, finance ministers from the group criticized the U.S. for using tariffs, saying such actions threaten global economic stability. They also called for changes to the way the International Monetary Fund (IMF) and global currencies operate.

In response, Trump reinforced his tariff stance, having previously threatened 100% taxes on BRICS countries if they created their own currency to rival the U.S. dollar.

Experts warn that moving away from trade with BRICS members like China will not be easy. Andrew Wilson, a top official at the International Chamber of Commerce, said that countries rely heavily on China for key products like electric vehicles, rare earth minerals, and batteries.

“In many sectors, there are simply no alternatives to Chinese production,” he told the BBC.

Source: BBC