ECONOMYNEXT – US President Donald Trump has threatened to impose an additional 10 percent tariff on countries supporting the ‘anti-American’ policies of the BRICS group.
The world awaits letters from Trump which he said would be sent out to countries from Monday, ahead of a July 9 deadline. The US administration’s 90-day tariff pause is supposed to end on Wednesday.
“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 said on his social media platform, Truth Social on Sunday.
The BRICS group, with founding members Brazil, Russia, India, China and South Africa, has expanded to include other emerging economies, and positions itself as a counterbalance to a West-led world order.
Last year Sri Lanka made a bid to join BRICS but was told the group was not looking to expand at the time.
At a BRICS summit taking place in Brazil, leaders said in a joint statement they had “serious concerns” about increased tariffs.
Without naming the US, they said restrictions “threaten to reduce global trade, disrupt global supply chains and introduce uncertainty.”
Trump said on Sunday that letters will be sent out to dozens of countries from 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 said on Truth Social.
US Treasury Secretary Scott Bessent has said tariffs could return to the initially (April 2) announced levels, if countries did not strike a deal with the US.
“If you don’t move things along, then on August 1 you will boomerang back to your April 2 tariff level,” Bessent told CNN.
He said that about 100 letters will be sent to small countries “where we don’t have very much trade,” many of which are “already at the baseline 10%.”
Only deals with three countries have been announced so far: the United Kingdom (10%), China (30%), and Vietnam (20%).
Trump had threatened to impose a “100% tariff” on “hostile” member countries if they supported a shared currency, such as a BRICS currency which was suggested by Brazil’s President Luiz Inácio Lula da Silva in 2023, but denied by India’s Prime Minister Narendra Modi. (Colombo/Jul7/2025)