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,

BRICS members are India, Brazil, Russia, China, South Africa, Saudi Arabia, Egypt, United Arab Emirates, Ethiopia, Indonesia, and Iran.

President Trump's proposed 100% tariff on BRICS nations has stirred global controversy. Labeling the group as 'anti-American,' Trump faces backlash from BRICS leaders, who defend their vision of a multipolar world.

President Trump threatened an additional 10% tariff on imports from countries aligning with BRICS. BRICS, originally Brazil, Russia, India, and China, was used to describe emerging economies.

President Donald Trump said he would not offer any extensions for the implementation of increased tariffs on many goods imported into the US, pledging that new rates would hit at the beginning of August.

The Indian rupee slumped on Monday as uncertainty about U.S. tariff policies resurfaced with President Donald Trump's threat of a fresh 10% levy on BRICS countries compounding pressure on the local currency alongside peers like South African rand and Chinese yuan.

The president’s tariff announcements suggest he has not backed away from his initial strategy, where even smaller trading partners will face tariffs.