Donald Trump has announced a 10% surtax on BRICS-supporting countries, with no exceptions, and set strict deadlines for trade deals.

President Trump has warned that all states that support the BRICS grouping will be subject to a 10% tax, without exception, in a bid to counter the alliance's economic influence. The US administration has set a deadline for trade talks, pressing international partners to reach agreements by August 1. Despite negotiations with Britain, Vietnam and China, many talks are stalling. The BRICS has harshly criticized the US measures as damaging to the global economy and expressed a desire to reform international financial institutions.