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Ross O'Keefe


NextImg:Trump sets 10% tariffs on countries aligning with BRICS as trade deals roll out

President Donald Trump said on Sunday that any country aligned with the “anti-American” BRICS organization would face an additional 10% tariff as the administration prowls the world for deals.

BRICS is a group of major nations, including Brazil, Russia, India, China, and South Africa, that expressed “serious concerns” over any country imposing unilateral tariffs. The group is currently working in its two-day summit through Monday.

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Trump wrote in a Truth Social post that 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 beefed with BRICS before, threatening member countries as president-elect in November with a 100% tariff if they create a currency to rival the dollar. “The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER,” Trump wrote on social media at the time.

BRICS is looking to add to its membership, expanding last year with the new additions of Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia, and the United Arab Emirates. The group’s purpose is to rival the U.S. and western Europe in trade dominance.

Meanwhile, Trump and Commerce Secretary Howard Lutnick have repeated an Aug. 1 deadline for the U.S. tariffs on the world even as Trump’s tariff pause is set to end on July 9. Trump said on Sunday that deals would be made or tariff letters would be sent out 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,” Trump wrote in a Truth Social post on Sunday night.

While the administration has placed tremendous pressure on its allies with the pending tariffs, which see almost every trade ally of the U.S. with at least a 10% levy, results still have been few and far between. The administration has only inked agreements with the United Kingdom and Vietnam.

U.S. officials have also been juggling negotiations ahead of the deadline with representatives from Japan, the European Union, India, South Korea, and other nations traveling to Washington to avoid double-digit tariffs. 

The tariff negotiations are critical. If few countries come away with a deal, the stock market and consumers could see an impact as countries charge the U.S. back with their own reciprocal tariffs.

But there also seemed to be some confusion over the issue on Sunday. “No, there are going to be tariffs, the tariffs, the tariffs are going to be, the tariffs,” the president said when asked if the tariff pause would end July 9 or in August. “I think we’ll have most countries done by July 9, yeah. Either a letter or a deal.”

Lutnick added, “But they go into effect on August 1. Tariffs go into effect August 1, but the president is setting the rates and the deals right now.”

Trump also said the administration would be sending letters out on Monday to countries without deals in order to set tariff rates. “We’re going to be sending letters out on Monday having to do with the trade deals … it could be as many as 15 or so … and some will go out on Tuesday and Wednesday — and we’ve made deals also,” he said.

Trump announced the majority of the tariffs on “Liberation Day” in April, shocking the stock market and the world at the U.S.’s willingness to tax almost every one of its allies. The president paused his “Liberation Day” tariffs just a week later after the stock market plummeted, inspiring the “Trump Always Chickens Out” phrase he particularly hates.

Some of the heaviest tariffs were placed on China, up to 145%, before they were reduced to 30% in a 90-day pause beginning in May. China has said, “Trade wars and tariff wars have no winners, and protectionism leads nowhere.”

‘NINETY DEALS IN 90 DAYS’: WHERE THINGS STAND AS TRADE DEADLINE FAST APPROACHES

Treasury Secretary Scott Bessent said on Sunday that if trade partners can’t make deals, their tariffs will “boomerang” back to their April levels. “President Trump’s going to be sending letters to some of our trading partners saying that if you don’t move things along, then on Aug. 1, you will boomerang back to your April 2 tariff level,” Bessent said in an interview on CNN’s State of the Union. “So I think we’re going to see a lot of deals very quickly.”

The Trump administration has prioritized taxing other countries, as net tariffs are the highest they’ve been in a century. Trump hopes to form trade deals with other countries or boost revenue with the levies.