President Trump said the U.S. would impose higher charges on imports from countries that follow the "anti-American policies" of major emerging economies including Brazil, China and Russia. "Any Country aligning themselves with the Anti-American policies of BRICS,

Asia stock markets declined on Monday after President Trump confirmed that significant tariffs will start on August 1, not July 9. Treasury Secretary Bessent mentioned tariffs would return to April 2 levels for non-agreement countries.