Catenaa, Monday, July 07, 2025- US plans to start sending letters to trading partners on Monday, warning countries that higher tariffs could kick in on 1 August, while BRICS members would face an additional 10% tariff.
Kevin Hassett, director of the White House National Economic Council, told CBS’ “Face the Nation” on Sunday that Trump would decide when it was time to give up on negotiations.
“The United States is always willing to talk to everybody about everything,” Hassett said. “There are deadlines, and there are things that are close, so maybe things will push back past the deadline or maybe they won’t. In the end, the president is going to make that judgment.”
Stephen Miran, the chair of the White House Council of Economic Advisers, likewise said countries negotiating in good faith and making concessions could “sort of, get the date rolled”.
“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 posted on his Truth Social network late on Sunday, without elaborating.
The threat came from Trump after the BRICS nations, which include Brazil, Russia, India, China and South Africa, met over the weekend. The group condemned unilateral tariffs and military attacks on Iran.
Treasury Secretary Scott Bessent has said around 100 partners would likely see a minimum “reciprocal” rate of 10% come next week, adding that he expects a “flurry” of deals to materialize before the deadline.
Trump imposed elevated tariff rates on dozens of nations that run meaningful trade surpluses with the US, and a 10% baseline tax on imports from all countries in response to what he called an economic emergency.
Many economists nonetheless fear that Trump’s tariffs have the potential to raise inflation, stalling interest rate cuts and therefore hindering growth. There are separate 50% tariffs on steel and aluminum and a 25% tariff on autos.
