Trump threatens extra 10% tariff on nations that side with Brics

US President Donald Trump says countries that side with the polices of the Brics alliance that go against US interests will be hit with an extra 10% tariff.

"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 platform on Sunday.

His comments came after Brics members criticised his tariff policies as well as proposing reforms to the International Monetary Fund (IMF) and how major currencies are valued.

Trump has long criticised Brics - an alliance designed to boost member nations' standing on the international stage to challenge the US and Western Europe.

Last year, the list of Brics members expanded beyond Brazil, Russia, India, China and South Africa to include Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the United Arab Emirates.

The countries in the bloc account for more than half of the world's population.

Brics leaders, who started a meeting in Rio de Janeiro, Brazil this weekend, have called for reforms to global institutions and positioned the alliance as a platform for diplomacy amid escalating trade conflicts and geopolitical tensions.

A joint statement by finance ministers of the Brics nations on Sunday criticised tariffs as a threat to global economy, bringing "uncertainty into international economic and trade activities".

The leaders also condemned the military strikes on Iran in June, criticising the attacks as a violation of international law.

Since 13 June both Israel and the US have struck targets in Iran, including its nuclear facilities.

The Brics summit was attended in person by world leaders, including Indian Prime Minister Narendra Modi and South African President Cyril Ramaphosa.

China's President Xi Jinping missed the event for the first time, with Premier Li Qiang standing in for him.

Russia's President Vladimir Putin, who has an arrest warrant from the International Criminal Court against him over alleged war crimes in Ukraine, attended online.

In 2024, Trump threatened 100% tariffs on Brics countries if they moved ahead with their own currency to rival the US dollar.