The Trump administration will not immediately impose a new 10% tariff against members of the developing nation BRICS bloc, but will proceed if countries take so-called "anti-American" policy actions,

President Donald Trump threatened to add a 10% tariff rate on BRICS-aligned countries. The term first applied to 4 countries but the group expanded.

"Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff," Trump wrote on social media. BRICS members account for about half the world's population and 40 percent of global economic output.