Trump’s Latest Tariff Threat Is Warning to BRICS

Donald Trump has set his sight on BRICS countries. On Sunday night, the US president threatened an extra 10% tariff on any country that aligned itself with “the Anti-American policies of BRICS,” according to a post on Truth Social. “There will be no exceptions to this policy,” he emphasized.

BRICS is a grouping of nations that includes Brazil, Russia, India, China and South Africa. Over the weekend, the group’s leaders agreed to continue talks on a cross-border payment system for trade and investment — a project they’ve been discussing for a decade. Metals fell and the yuan weakened after Trump’s remarks while stocks retreated ahead of a potentially volatile week.