Trump’s new tariff letters have sent shockwaves across global markets as he targets 22 countries with tough new trade threats just weeks before the August 1 deadline. From close allies like Japan and South Korea to BRICS nations like Brazil and South Africa,

President Trump's proposed 100% tariff on BRICS nations has stirred global controversy. Labeling the group as 'anti-American,' Trump faces backlash from BRICS leaders, who defend their vision of a multipolar world.

The Central Asian nation, rich in critical minerals, is deepening its ties to China but does relatively little trade with the United States.

President Trump threatened an additional 10% tariff on imports from countries aligning with BRICS. BRICS, originally Brazil, Russia, India, and China, was used to describe emerging economies.

President Donald Trump said he would not offer any extensions for the implementation of increased tariffs on many goods imported into the US, pledging that new rates would hit at the beginning of August.

The Indian rupee slumped on Monday as uncertainty about U.S. tariff policies resurfaced with President Donald Trump's threat of a fresh 10% levy on BRICS countries compounding pressure on the local currency alongside peers like South African rand and Chinese yuan.

Price increases could hit coffee, shoes, appliances and other products following a flurry of tariffs issued by President Donald Trump in recent days, analysts told ABC News. Trump slapped tariffs as high as 50% on dozens of countries,

The dollar rose and Commerzbank said since Trump is announcing the tariffs in increments, the market seemed to be coping better than it did in April—when steep levies were unveiled at once.