U.S. Tariff Policy Announcement by the US President
On July 6, 2025, U.S. President announced a significant change in tariff policy aimed at countries associated with the BRICS group.
Key Announcements
- Additional Tariff: Countries aligning with "Anti-American policies" of BRICS will face an extra 10% tariff.
- No Exceptions: The tariff policy will not have any exceptions, as stated by President.
BRICS Overview
- Original Members: The BRICS group originally included Brazil, Russia, India, and China, established in 2009.
- Expansion: South Africa joined later, and recent additions include Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia, and the United Arab Emirates.
- Recent Summit: The 17th BRICS Summit involved participation from members, partners, and outreach invitees, highlighting tensions with U.S. tariff policies.
US President's Tariff Strategy
- Indiscriminate Tariffs: Previously, President targeted allies and rivals with broad tariffs, pausing only due to market backlash.
- Deadline for Deals: He warned of unilateral levies unless partners secured "deals" by August 1.
- Summit Declaration: BRICS leaders refrained from directly criticizing the U.S. in their summit declaration, despite disagreements over trade policies.
