In a fresh escalation of trade tensions, President Donald Trump has once again moved the goalposts on tariff policy, pushing the deadline for new trade deals to 1st August 2025.
This marks the second extension since the original April 2025 ‘Liberation Day’ announcement, which had already stirred global markets.
The latest twist includes a new 10% tariff targeting countries aligned with the BRICS bloc—Brazil, Russia, India, China, and South Africa – along with newer members such as Iran and the UAE.
Trump declared on Truth Social that ‘any country aligning themselves with the Anti-American policies of BRICS will be charged an ADDITIONAL 10% tariff. There will be no exceptions’.
The move has drawn sharp criticism from BRICS leaders, who condemned the tariffs as ‘indiscriminate’ and warned of rising protectionism. Industrial metals, including copper and aluminium, saw immediate price drops amid fears of disrupted supply chains.
While the White House insists the new deadline allows more time for negotiation, analysts warn the uncertainty could dampen global trade and investor confidence.
With letters outlining tariff terms expected to be sent this week, investors and market makers watch closely as Trump’s trade strategy continues to evolve or unravel.