Trump says countries aligning with BRICS policies will face additional 10% tariff

Trump says countries aligning with BRICS policies will face additional 10% tariff


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 announced that an additional 10% tariff will be charged to countries “aligning themselves with the anti-American policies of BRICS,” without elaborating.

“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.

Trump’s announcement came as the BRICS bloc of developing countries have gathered in Rio de Janeiro, Brazil for a summit.

The BRICS group 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.”

Chinese President Xi Jinping sent premier Li Qiang to the meeting in his absence, while Russian President Vladimir Putin attended online.

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.

This is breaking news. Please refresh for updates.



Source

China blocks Meta’s acquisition of AI startup Manus
World

China blocks Meta’s acquisition of AI startup Manus

China’s state planner on Monday called for Meta to unwind its $2 billion acquisition of Manus, a Singaporean AI startup with Chinese roots. The decision to prohibit foreign investment in Manus was made in accordance with laws and regulations, the National Development and Reform Commission said in a brief statement. It added that it has […]

Read More
European markets mixed as Iran reportedly makes peace proposal
World

European markets mixed as Iran reportedly makes peace proposal

Pakistan’s Army Chief and Field Marshal Syed Asim Munir (3rd R) meets with Iran’s Foreign Minister Abbas Araghchi (3rd L) upon his arrival in Islamabad on April 25, 2026. – | Afp | Getty Images LONDON — European stocks were mixed at the start of a new trading week, as investors keep an eye on […]

Read More
We spoke to over 30 CEOs and business leaders. Here’s what worries them most
World

We spoke to over 30 CEOs and business leaders. Here’s what worries them most

Business leaders are confronting a new operating reality: one where war, inflation, AI and supply chain shocks are no longer exceptional events, but part of the baseline. CNBC spoke to more than 30 CEOs, business executives and industry leaders at the annual Converge Live event in Singapore last week. Across sectors — banking, energy, shipping, […]

Read More