Trump Throws Down the Gauntlet: 10% Tariff on Nations Aligning with BRICS
US President Donald Trump has warned that any country supporting the “anti-American policies” of the BRICS bloc will face an additional 10% tariff, with no exceptions. This move injects fresh uncertainty into the global trade landscape as Trump prepares to send out tariff letters to scores of countries starting Monday. The BRICS group, comprising Brazil, Russia, India, China, South Africa, and recent entrants like Egypt, Ethiopia, and Indonesia, has long advocated for a “multipolar” world order, challenging Western economic dominance.
Tariff Threats and Trade Tensions
Trump’s threat comes as the US administration’s 90-day tariff pause is set to expire on July 9. Treasury Secretary Scott Bessent has warned that tariffs could return to April levels if countries fail to strike a deal with the US. The letters, which may include duty rates ranging from 10% to 70%, will be sent to dozens of countries, with around 100 letters going to small countries where trade volumes are low. Bessent emphasized that the US has leverage in the situation, given its trading deficit.
Global Economic Implications
The BRICS bloc has condemned Trump’s tariff policies, citing concerns about unilateral trade measures that “distort trade” and threaten global economic stability. Economists have warned that Trump’s trade war could increase costs for consumers, with some companies like Walmart already announcing price hikes. As trade tensions escalate, the global economy faces heightened uncertainty and volatility.
