Trump says tariff letters, deals to be sent, countries aligned with BRICS get extra 10% tariff
"I am pleased to announce that the UNITED STATES TARIFF Letters, and/or Deals, with various Countries from around the World, will be delivered starting 12:00 P.M. (Eastern), Monday, July 7th," President Trump said.
President Trump said that tariff letters and trade deals will be sent out to their respective countries Monday, while nations aligned with BRICS will get an extra 10% tariff.
"I am pleased to announce that the UNITED STATES TARIFF Letters, and/or Deals, with various Countries from around the World, will be delivered starting 12:00 P.M. (Eastern), Monday, July 7th. Thank you for your attention to this matter! DONALD J. TRUMP, President of The United States of America," Trump posted on Truth Social Sunday night.
"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. Thank you for your attention to this matter!" he added in another post.
BRICS includes Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates.
Trump announced in April a 90-day pause on increased tariffs, allowing countries to negotiate trade deals with the U.S., which are set to expire on Wednesday.
The post follows Treasury Secretary Scott Bessent seeming to suggest Sunday the deadline for U.S. trading partners to renegotiate their deals with the U.S. had been pushed back to August.
“President Trump’s going to be sending letters to some of our trading partners saying that if you don’t move things along, then on August 1, you will boomerang back to your April 2 tariff level,” Treasury Secretary Scott Bessent said on Sunday, CNBC reported.
Countries will “get a letter saying that if we have not reached an agreement, then you will go back to the April 2 level,” he explained.
“We are saying this is when it’s happening, if you want to speed things up, have at it, if you want to go back to the old rate that’s your choice,” Bessent said.
“I would expect to see several big announcements over the next couple of days,” he added.
Trump said on Friday that countries will “start to pay on August 1. The money will start to come into the United States on August 1, in pretty much all cases.”