Overview

• Trump signed 12 tariff letters set for delivery at 12 PM Eastern on July 7 to inform multiple countries of upcoming rate increases.
• He announced an additional 10% surcharge on any nation aligning with BRICS’ “anti-American” summit declarations, insisting there will be no exceptions.
• The timing coincides with the 17th BRICS summit in Rio de Janeiro, where member states condemned unilateral trade measures and explored steps to reduce dollar dependence.
• A 90-day suspension of retaliatory tariffs announced in April is slated to expire on July 9, at which point the paused duties will automatically resume.
• The administration’s broad use of deadlines and punitive levies has drawn legal scrutiny over WTO compatibility, unsettled global markets and spurred concerns about higher U.S. consumer prices.