The Trump administration announced that some deals had been made with trading partners, and letters would be sent out on Monday notifying other countries of higher tariffs starting in August.

President Donald Trump threatened to add a 10% tariff rate on BRICS-aligned countries. The term first applied to 4 countries but the group expanded.

“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,” Mr. Trump said in a Truth Social post. He did not elaborate, nor did he say what BRICS policies he was referring to.