President Donald Trump announced new tariffs on Sunday. The US will add a 10% tariff on countries supporting the BRICS group’s policies.

New Tariff Policy: No Exceptions

Trump shared on social media, “This policy applies to all.” He did not specify which policies he sees as against US interests.

BRICS Summit in Brazil

This news came during the BRICS summit in Rio de Janeiro. BRICS includes major emerging economies:

• Brazil
• Russia
• India
• China
• South Africa
• Saudi Arabia
• Egypt
• Ethiopia
• Indonesia
• Iran
• United Arab Emirates

Washington views BRICS as an economic rival to the US.

Past Warnings and Tariff Threats

In January, Trump warned BRICS against replacing the US dollar. He repeated a threat of 100% tariffs made after his election in November.

Trump’s recent warning came as Washington considered reinstating broader tariffs. These tariffs could return to April levels if countries fail to reach a trade deal with the US.

Treasury Secretary Scott Bessent told CNN, “If you don’t make progress, then on August 1, tariffs will return to April 2 levels.”

Recent Tariff Adjustments

Trump’s tariffs, including a 26% levy on India, took effect on April 9. He reduced the rates to 10% for 90 days to allow time for trade talks.

The President has often stated his plan to impose a reciprocal tax on India and others. He cites high tariffs these countries place on foreign goods.

Concerns and Trade Talks

The tariffs have raised fears of a trade war. This could disrupt the global economy and cause a recession.

India and the US are negotiating a trade deal. The White House announced on June 30 that the deal is nearly finalized and will be announced soon.