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Your guide to what Trump’s second term for Washington, business and world means
Donald Trump has warned that every country that includes the “anti-American policy” of the Brics block of the Nations will be exposed to exports with an additional 10 percent tariff at the beginning of a decisive week for the trade war of the US president.
Trump warned the BRICS group, which originally included Brazil, Russia, India, China and South Africa, but has expanded since then after they had met at the weekend. At a summit in Rio de Janeiro, the group condemned military attacks on Iran and one -sided tariffs, but did not mention the United States by name.
“An additional tariff of 10% is calculated with Brics’s anti -American policy. There will be no exceptions to this directive,” Trump published in his social network late Sunday.
The threat is that governments around the world are preparing for the end of the 90-day pause for the steep taxes that Trump announced on his so-called liberation day in April when he also imposed a 10 percent tariff on the United States’ trading partners.
The harder taxes were carried out for 90 days to enable conversations, but since then the White House has only beat three trading packs – with Great BritainPresent China And Vietnam.
Dozens of countries, including the Top -US allies such as the EU, Japan and South Korea, were calmly calm and confronted the renewed risk of high tariffs.
Trump promised to send letters to countries on Monday that have not achieved business with the United States and to tell them how their tariff will take place from August 1st.
China’s Ministry of Foreign Affairs resigned Trump’s threat to the BRICS and said that the group stood for “openness” and “cooperation between emerging markets and developing countries”.
“There are no winners in a trade war or a tariff war and protectionism has no future,” said the ministry.
In a joint explanation on Saturday, BRICS finance minister said that they spoke out against the one-sided increase in tariffs and non-tariff measures, and added that they would “protect” the “multilateral trading system of the rules”.
Scott Bessent, US finance minister, said on Sunday that the tariffs for imports of some countries will return to the steep April level, unless they quickly offer concessions and strike business with Washington.
In conversation with CNN he said Trump card If countries were informed that the United States did not achieve any agreements that higher taxes for their imports would come into force next month.
“I will not give away the game book. We will be very busy in the next 72 hours,” said Bessent.
“President Trump will send some of our trading partners letters who say that on August 1st on August 1st on August 1st will return to their tariff level on April 2.”
Trump said reporters on Sunday evening that there would be “a combination of letters and some shops” in the next few days.
“I think we will have most countries done by July 9, either a letter or a deal,” said Trump, flanked by trading secretary Howard Lutnick and confirmed that the taxes on August 1 would come into force. Later in the truth that the letters on Monday on Monday on the east of the East would end.
Stephen Miran, chairman of the White House Economic Council, said in the ABC network that he heard “good things” about negotiations with Europe and India.
The initial break of the Trump government for the higher taxes was forced by the turbulence, the planned tariffs were exposed to the global stock and bond markets, and investors feared that the US protectism would reach growth and fuel inflation.
Since Trump has been the higher taxes, the stock markets have recovered sharply while the bond markets have stabilized. The possibility of a quick return to extremely high tariffs in many countries could develop these concerns again.
