President Donald Trump has threatened 10% tariffs on BRICS members—Brazil, Russia, India, China, and South Africa—for attempting to challenge the dollar's dominance. The BRICS nations criticized the unilateral tariff as inconsistent with WTO rules.

President Donald Trump on July 14 announced the U.S. would impose "severe tariffs" on Russia unless Moscow agrees to a deal to end the war in Ukraine within 50 days, but experts who spoke to the Kyiv Independent say the plan is deeply flawed.

President Donald Trump said he would hit Russia with “very severe" tariffs if President Vladimir Putin doesn’t reach a cease-fire with Ukraine in 50 days.

Trump’s tariffs could hit China, India and Brazil especially hard. All three countries are top buyers of Russian fossil fuels.