Former U.S. President Donald Trump has reignited trade tensions by threatening new tariffs on any nation that aligns itself with the “anti-American” policies of the BRICS economic bloc. In a series of posts on his Truth Social platform, Trump announced that official tariff notifications would begin going out to dozens of countries starting Monday, July 7.
BRICS, comprising Brazil, Russia, India, China, and South Africa, recently expanded its membership to include Egypt, Ethiopia, Iran, Indonesia, and the United Arab Emirates, with several other partner countries in talks. Though Trump did not specify what constitutes “anti-American” policies, he signaled that countries associated with the group could face an additional 10% import duty—without exception.
The timing of Trump’s announcement is no coincidence. The U.S. government’s three-month tariff suspension is set to expire, and Trump appears determined to reassert American dominance in global trade talks. “If you don’t move things along, then on August 1, you will boomerang back to your April 2 tariff level,” warned Treasury Secretary Scott Bessent over the weekend.
Global Uncertainty as Trump Pushes Trade Agenda
The aggressive tariff campaign has already resulted in a flurry of negotiations. Trump confirmed that letters or trade deals would be finalized with most nations by July 9. While some countries—such as the UK, China, and Vietnam—have reportedly reached new trade frameworks, many others, including BRICS member states, remain in limbo.
The proposed duties could range from a base 10% up to as high as 70%, depending on each country’s trading relationship with the U.S. However, Bessent clarified that the upper limit wouldn’t apply to major trade partners.
Commerce Secretary Howard Lutnick echoed Trump’s stance, calling the effort a “maximum pressure” campaign. According to Bessent, over 100 smaller nations—many with minimal trade activity with the U.S.—are expected to receive baseline 10% tariff letters.
Trump’s rhetoric is also stirring unease among BRICS members, particularly as the bloc continues pushing for a multipolar world order less reliant on Western institutions. The idea of a unified BRICS currency, once proposed by Brazil’s president, is not currently a priority for the group, which instead focuses on strengthening trade in local currencies and enhancing cross-border payment systems.
During the ongoing BRICS summit hosted by Brazil, member countries criticized rising unilateral trade barriers—an indirect rebuke of Trump’s previous and renewed tariff threats. The group also condemned recent strikes on Iran and emphasized the need to protect peaceful nuclear sites.
Economic Impact and Inflation Concerns
Economists and analysts remain divided over the impact of Trump’s tariff strategy. While Bessent argues that there’s “no sign of significant inflation” and claims tariff revenues are growing, critics warn of rising consumer prices and reduced global competitiveness. Retailers like Walmart have already indicated price hikes may be unavoidable if tariffs persist.
Former Treasury Secretary Larry Summers labeled the approach short-sighted, predicting that the tariffs could erode American manufacturing competitiveness. On the other hand, current White House advisor Stephen Miran insists that past tariffs did not severely harm the economy and that job growth remains stable.
As Trump doubles down on his America-first trade agenda, the world watches closely. Whether his strategy leads to meaningful deals or greater global fragmentation remains to be seen.
