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Countries aligning with BRICS policies face an additional 10% tariff
Posted on 7/6/25 at 10:52 pm
Posted on 7/6/25 at 10:52 pm
quote:CNBC
U.S. President Donald Trump announced that an additional 10% tariff will be charged to countries “aligning themselves with the anti-American policies of BRICS,” without elaborating.
“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,” Trump said in a post on Truth Social Sunday evening stateside.
Trump’s announcement came as the BRICS bloc of developing countries have gathered in Rio de Janeiro, Brazil for a summit.
The BRICS group includes Brazil, Russia, India, China, South Africa, Saudi Arabia, Egypt, United Arab Emirates, Ethiopia, Indonesia and Iran. The bloc describes itself as “a political and diplomatic coordination forum for countries from the Global South and for coordination in the most diverse areas.”
Chinese President Xi Jinping sent premier Li Qiang to the meeting in his absence, while Russian President Vladimir Putin attended online.
Separately, Trump confirmed that the U.S. will start delivering letters on Monday, detailing country-specific tariff rates and any agreements reached with various trading partners.
Posted on 7/7/25 at 10:26 am to bigjoe1
quote:
The BRICS group includes Brazil, Russia, India, China, South Africa, Saudi Arabia, Egypt, United Arab Emirates, Ethiopia, Indonesia and Iran.
Only because my company needs a specific product that is not currently manufactured in the US and 1/3rd of the costs of the product comes from 2 of those countries. The rest is from European countries, so on pins and needles over here waiting to see what the final results are on 7/9
Posted on 7/7/25 at 10:29 am to Weekend Warrior79
Love that GIF. You have no idea how many times I feel like that.Seriously though planning is just damn near impossible when the goal posts keep getting moved.
Posted on 7/7/25 at 10:37 am to bigjoe1
quote:
Seriously though planning is just damn near impossible when the goal posts keep getting moved.
The part that kills me is that we have had shipments the day after the tariffs went into effect and did not have enough information beforehand to adjust. Under the HTS, our products had been excluded for years since they are not manufactured in the US. I guess I should be grateful that out smaller of 2 July shipments will happen on 7/11 - so we can be better prepared for the large shipment coming at the end of the month.
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