FX.co ★ Trump Threatens Extra Tariffs on Countries Aligning with BRICS

U.S. President Donald Trump declared on Sunday that countries adopting what he terms as "anti-American policies" from the BRICS alliance will incur an extra 10% tariff. "There will be no exceptions to this policy. Thank you for your attention to this matter!" Trump stated on Truth Social. He did not specify which particular policies he was referencing. The BRICS group, initially formed by Brazil, Russia, India, and China, had its inaugural summit in 2009 and later included South Africa. In 2023, the alliance further expanded to welcome Egypt, Ethiopia, Iran, Saudi Arabia, the UAE, and Indonesia as new members. Trump also announced that “reciprocal” tariffs—originally disclosed in April—will be implemented starting August 1 for countries that have not finalized a trade agreement with the U.S.