This is the second time in ten days that President Trump has threatened the member countries of BRICS - Brazil, Russia, India, China, and South Africa – with 10 per cent tariffs.

“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,” Mr. Trump said in a Truth Social post. He did not elaborate, nor did he say what BRICS policies he was referring to.

President Donald Trump has threatened new tariffs on any nation supporting “anti-American” policies of the BRICS group of emerging economies, as he announced tariff letters would be sent out to scores of countries from Monday,