President Donald Trump threatened to add a 10% tariff rate on BRICS-aligned countries. The term first applied to 4 countries but the group expanded.

Despite the China-backed initiative making limited progress, dozens of nations are still eager to join.US President Donald Trump is doubling down against the BRICS bloc of fast-growing economies -- including Brazil,

India is currently looking to strike a favorable trade deal with the United States as US President Donald Trump is threatening to impose new tariffs on India over its participation in the BRICS forum,

President Donald Trump said in a Truth Social post that countries aligned with BRICS face an additional 10% tariffs.

Donald Trump has threatened an additional 10 per cent tariff on countries that align themselves with the Bric alliance. The US President described moving towards the emerging bloc as "anti-American" and warned there would be no exception to the rule.

Trump also said he doesn't see BRICS as a serious threat but believes the group is trying to weaken the U.S. dollar so another country can replace it as the global standard.

President Donald Trump proposed a new 10% tariff on any product from countries that are part of the BRICS bloc, chucking a fiery new grenade into the global economy as the July 9 trade deadline moves closer.

The majority of the new tariffs announced on Monday closely reflect the rates proposed by President Donald Trump in April.