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.

Trump’s new tariff letters have sent shockwaves across global markets as he targets 22 countries with tough new trade threats just weeks before the August 1 deadline. From close allies like Japan and South Korea to BRICS nations like Brazil and South Africa,

Any country aligning themselves with the anti-American policies of BRICS will be charged an additional 10% tariff."

US President Donald Trump unveiled a new round of tariff demand letters on Wednesday, including a 50% rate on Brazil, one of the highest so far announced for the levies which are set to hit in August.

President Donald Trump on Wednesday informed seven more nations about new tariffs, singling out Brazil with a 50% duty because of what he called the "disgrace" of how former President Jair Bolsonaro has been treated.

U.S. President Donald Trump broadened his global trade war on Tuesday as he announced a 50% tariff on imported copper and said long-threatened levies on semiconductors and pharmaceuticals were coming soon.

Brazil spent months flying under the radar as Donald Trump upended global trade. Now that it’s in the spotlight, President Luiz Inacio Lula da Silva may stand to benefit from the attention.