Connect with us

Hi, what are you looking for?

Health

Trump Unveils Tariff Plans, Targets BRICS Nations with New Levies

President Donald Trump has announced a series of forthcoming tariff letters aimed at at least seven countries, as part of his ongoing strategy to pressure global trade partners into negotiations. During a statement on August 1, 2025, Trump emphasized that no extensions would be granted beyond this deadline, intensifying uncertainty in the global economy.

In a post on Truth Social, Trump indicated that “a minimum of seven” tariff notices would be dispatched on Wednesday morning, with additional letters expected to follow in the afternoon. Commerce Secretary Howard Lutnick confirmed to CNBC that between 15 and 20 letters would be sent over the next two days, marking the administration’s latest move in its trade negotiations.

The White House previously issued tariff letters to 14 countries, including Japan, South Korea, and South Africa, with rates predominantly aligning with those announced in April. This announcement follows Trump’s executive order that shifted the implementation date from July 9 to August 1, allowing a brief window for negotiations.

Trump’s recent comments indicate a firmer stance, stating, “All money will be due and payable starting AUGUST 1, 2025 – No extensions will be granted.” This marked a notable change from his previous remarks, which suggested some flexibility regarding the deadline.

The international reaction to the renewed tariff announcements has so far been measured, contrasting sharply with the market upheaval that followed Trump’s initial tariff declarations on April 2. At that time, he had introduced “reciprocal” tariffs targeting numerous trading partners and allowed a 90-day negotiation period. To date, only the United Kingdom and Vietnam have managed to reach framework agreements with the United States, while China has secured a temporary trade truce lasting until August 12.

Focus on the BRICS Group

At a cabinet meeting, Trump revealed plans to impose a 10% tariff on imports from the BRICS nations, which include Brazil, Russia, India, and China. He stated, “If they’re a member of BRICS, they are going to have to pay a 10% tariff, just for that one thing – and they won’t be a member long.”

The president justified this tariff threat by asserting that it is crucial to protect the dominance of the US dollar. In 2023, Brazilian President Luiz Inácio Lula da Silva suggested the establishment of a BRICS currency, although this proposal has not gained traction since then. Trump remarked, “BRICS was set up to hurt us… losing our dollar’s status would be as damaging as losing a war.”

The BRICS group, originally comprised of Brazil, Russia, India, China, and South Africa, has expanded to include Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates, with Saudi Arabia’s membership status still unclear.

Upcoming EU Tariff Notifications

During his cabinet meeting, Trump also announced plans to send a letter to the European Union regarding tariffs set to take effect from August 1, despite ongoing trade discussions with the bloc. “We’re probably two days off from sending them a letter,” he said. He added that a letter signifies a potential deal.

While Trump acknowledged that the EU is currently engaging positively with the US, he expressed dissatisfaction regarding legal actions against American tech companies initiated by the bloc. In response, Ursula von der Leyen, President of the European Commission, stated on social media that the EU is “working closely” with the Trump Administration in “good faith” to reach an agreement.

As the situation develops, the international community will closely monitor the implications of these tariffs for global trade relations, particularly as the deadline approaches.

You May Also Like

Lifestyle

Shares of **Amerant Bancorp** (NYSE:AMTB) received an upgrade from Wall Street Zen on March 10, 2024, transitioning from a hold rating to a buy...

Top Stories

UPDATE: Sydney Sweeney’s Baskin-Robbins advertisement is making waves online as backlash intensifies over her recent American Eagle campaign. Just days after critics condemned the...

Sports

The UFC event in Abu Dhabi on July 26, 2025, featured a record-breaking performance from Steven Nguyen, who achieved an unprecedented feat by knocking...

Top Stories

BREAKING: The historic Durango-La Plata Aquatic Center, a cornerstone of community recreation since its opening in August 1958, is facing imminent demolition as part...

Business

An off-Strip casino in Las Vegas has unveiled Nevada’s latest sportsbook, Boomer’s Sports Book, as part of a substantial renovation. The new facility opened...

Top Stories

URGENT UPDATE: Affordable motorcycle helmets under ₹1000 are now available for safety-conscious riders across India. With road safety becoming a pressing issue, these helmets...

Sports

The Las Vegas Aces secured a convincing victory over the Los Angeles Sparks, defeating them 89-74 on March 12, 2024, at Crypto.com Arena. This...

Health

The ongoing impact of poverty on children’s health has prompted urgent calls for action from mental health advocacy groups. With a notable rise in...

Health

Translucent, an innovative start-up specializing in artificial intelligence, has secured $7 million in seed funding to enhance its technology aimed at helping healthcare organizations...

Sports

As the 2025 NFL season approaches, fantasy football enthusiasts are gearing up for their drafts, particularly focusing on tight ends. With players like Brock...

Technology

Polish cyclist Michał Kwiatkowski returned to competitive racing on Saturday at the Clásica San Sebastián, marking his first event in 141 days following a...

Top Stories

California has taken a stand against a federal directive from the Trump administration demanding the exclusion of transgender athletes from girls’ and women’s sports....

Copyright © All rights reserved. This website provides general news and educational content for informational purposes only. While we strive for accuracy, we do not guarantee the completeness or reliability of the information presented. The content should not be considered professional advice of any kind. Readers are encouraged to verify facts and consult appropriate experts when needed. We are not responsible for any loss or inconvenience resulting from the use of information on this site.