Since taking office, Trump has set off a global trade war that has roiled financial markets and sent policymakers scrambling to protect their economies, through efforts such as deals with the United States and other countries.
Trump, whose remarks to reporters on Sunday came just before his return to Washington from a weekend golfing in New Jersey, had flagged the August 1 date earlier, but it was unclear if all tariffs would increase then.
In a posting on his Truth Social website, Trump later said the U.S. would start delivering tariff letters from 12:00 pm ET (1600 GMT) on Monday.
The first BRICS summit in 2009 was attended by leaders from Brazil, China, India and Russia, with South Africa joining later while Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the United Arab Emirates were included last year.
On Sunday, BRICS leaders condemned attacks on Gaza and Iran, called for reforms to global institutions and warned that the rise in tariffs threatened global trade.
Earlier on Sunday, U.S. Treasury Secretary Scott Bessent told CNN’s “State of the Union” that several big trade agreements would be announced in the next days, adding that European Union talks had made good progress.
“President Trump’s going to be sending letters to some of our trading partners saying that if you don’t move things along, then on August 1 you will boomerang back to your April 2 tariff level,“ Bessent said.
Kevin Hassett, who heads the White House National Economic Council, told CBS’s “Face the Nation” program there might be wiggle room for countries engaged in earnest negotiations.
‘I HEAR GOOD THINGS’
“I hear good things about the talks with Europe. I hear good things about the talks with India,“ Miran said. “And so I would expect that a number of countries that are in the process of making those concessions ... might see their date rolled.”
Thailand, keen to avert a 36% tariff, is now offering greater market access for U.S. farm and industrial goods and more purchases of U.S. energy and Boeing jets, Finance Minister Pichai Chunhavajira told Bloomberg News on Sunday.
Hassett told CBS News that framework agreements already reached with Britain and Vietnam offered guidelines for other countries. He said Trump’s pressure was prompting countries to move production to the United States.
“It’s extremely one-sided. We get to apply a significant tariff to Vietnamese exports. They’re opening their markets to ours, applying zero tariff to our exports.”
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