Silver to $39.50: Up 9.4% Past 30 Days
President Trump announced a 10% additional tariff on countries that align with “Anti-American policies of BRICS” during the bloc’s summit in Brazil.
Though Trump didn’t define these policies, experts believe he’s targeting BRICS’ push to reduce dependence on U.S.-led financial systems and the dollar.
BRICS leaders responded by criticizing “unjustified unilateral protectionist measures” that violate WTO rules. The bloc—including Brazil, Russia, India, China, and South Africa—aims to challenge Western economic dominance.
Treasury Secretary Bessent confirmed tariff letters will be sent Monday, with new rates taking effect August 1st for countries without U.S. agreements.
