Tuesday, 29 Jul 2025
  • About us
  • Contact
  • History
  • My Interests
  • Privacy Policy
Nexpressdaily.com
  • Home
  • Politics
  • Finance
  • Health
  • Technology
  • Travel
  • World
  • 🔥
  • Technology
  • World
  • Finance
  • Politics
  • Travel
  • Health
Font ResizerAa
Nexpressdaily.comNexpressdaily.com
  • My Saves
  • My Interests
  • My Feed
  • History
  • Travel
  • Finance
  • Politics
  • Health
  • Technology
  • World
Search
  • Pages
    • Home
    • Blog Index
    • Contact Us
    • Search Page
    • 404 Page
  • Personalized
    • My Feed
    • My Saves
    • My Interests
    • History
  • Categories
    • Finance
    • Politics
    • Technology
    • Travel
    • Health
    • World
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Finance

Trump says countries aligning with BRICS bloc will face extra 10% tariff

Nexpressdaily
Last updated: July 7, 2025 5:05 am
Nexpressdaily
Share
SHARE

President of the United States Donald J. Trump delivers remarks to a crowd at an America250 rally in Des Moines, Iowa, United States, on July 3, 2025.

Kyle Mazza | Anadolu | Getty Images

U.S. President Donald Trump has threatened an additional 10% tariff on countries that orient themselves along the “Anti-American policies of BRICS.”

Trump’s announcement, which did not elaborate on any specific policy of BRICS, came as the group’s meeting is underway in Rio de Janeiro, Brazil.

The bloc’s leaders took aim at Trump’s sweeping tariff policies in a joint statement dated July 6, warning against “unjustified unilateral protectionist measures, including the indiscriminate increase of reciprocal tariffs.”

Without calling out the U.S., the leaders voiced “serious concerns about the rise of unilateral tariff and non-tariff measures which distort trade and are inconsistent with WTO rules,” warning that the “proliferation of trade-restrictive actions” threaten to disrupt the global economy and worsen the existing economic disparities.

“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 in a post on Truth Social Sunday evening stateside.

The BRICS group of developing nations also offered symbolic backing to fellow member, Iran, condemning a series of military strikes on the country, without naming Israel or the U.S which carried out the military operation.

BRICS includes Brazil, Russia, India, China, South Africa, Saudi Arabia, Egypt, United Arab Emirates, Ethiopia, Indonesia and Iran. The bloc describes itself as “a political and diplomatic coordination forum for countries from the Global South and for coordination in the most diverse areas.”

This year, Chinese President Xi Jinping sent Premier Li Qiang to the meeting in his absence, while Russian President Vladimir Putin, who faces an arrest warrant from the International Criminal Court, attended online.

BRICS goals include improving economic, political and social cooperation among its members, and “increasing the influence of Global South countries in international governance.” 

The bloc seeks to challenge Western-dominated institutions of global economic governance, as well as to supplant the U.S. dollar’s role in the global economy, according to the Carnegie Endowment for International Peace.

Separately, Trump confirmed that the U.S. will start delivering letters on Monday, detailing country-specific tariff rates and any agreements reached with various trading partners. That affirmed Treasury Secretary Scott Bessent’s comments over the weekend.

The Trump administration has said that tariffs announced in April will take effect on Aug. 1, instead of July 9, for countries that have not reached an agreement with the U.S.

Bessent rejected the idea that Aug. 1 was yet another new tariff deadline. “We are saying this is when it’s happening, if you want to speed things up, have at it, if you want to go back to the old rate that’s your choice,” Bessent said Sunday on CNN’s “State of the Union.”

In April, Trump announced a 90-day pause on the steep tariffs he had unveiled just days prior on most trading partners. That pause is due to expire on Wednesday, sparking concern among investors and U.S. trading partners.

— CNBC’s Erin Doherty, Lim Hui Jie contributed to this story.

Share This Article
Email Copy Link Print
Previous Article How to watch Summer Games Done Quick 2025
Next Article Netanyahu to visit White House amid Gaza ceasefire talks

Your Trusted Source for Accurate and Timely Updates!

Our commitment to accuracy, impartiality, and delivering breaking news as it happens has earned us the trust of a vast audience. Stay ahead with real-time updates on the latest events, trends.
FacebookLike
XFollow
InstagramFollow
LinkedInFollow
MediumFollow
QuoraFollow
- Advertisement -
Ad imageAd image

Popular Posts

Pick up the Amazon Fire TV Soundbar at an all-time low price

Amazon Prime Day is hitting its stride with incredible discounts on popular tech products. If…

By Nexpressdaily

ROSEN, TRUSTED INVESTOR COUNSEL, Encourages Actinium Pharmaceuticals, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – ATNM

New York, New York--(Newsfile Corp. - May 18, 2025) - WHY: Rosen Law Firm, a…

By Nexpressdaily

Rare whale washes up on Vancouver Island, in possible 1st sighting of species in B.C.

In a possible first for B.C., a Bryde's whale — a species not generally seen north…

By Nexpressdaily

You Might Also Like

Finance

Warren Buffett To Step Down As Berkshire Hathaway CEO, Greg Abel Named Successor

By Nexpressdaily

Ghislaine Maxwell meets DOJ official

By Nexpressdaily
Finance

Amazon is selling 'superior' $160 waterproof Bluetooth earbuds for $20 that 'give Apple a run for their money'

By Nexpressdaily
Finance

J.P. Morgan – World’s Best Emerging Market Bank For 2025

By Nexpressdaily
Nexpressdaily.com
Facebook Twitter Youtube Rss Medium

About US

NexpressDaily.com is a leading digital news platform committed to delivering timely, accurate, and unbiased news from around the world. From politics and business to technology, sports, health, and entertainment – we cover the stories that matter most. Stay connected with real-time updates, expert insights, and trusted journalism, all in one place.

Top Categories
  • World
  • Finance
  • Politics
  • Tech
  • Health
  • Travel
Usefull Links
  • About us
  • Contact
  • History
  • My Interests
  • Privacy Policy

© Nexpressdaily. All Rights Reserved.

Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?