The United States has a trade deficit with Iraq, Algeria, Libya and Tunisia, according to the US government, prompting the president to send them letters warning of new tariffs.

RIO DE JANEIRO (AP) — Brazilian President Luiz Inácio Lula da Silva said Thursday that he will impose retaliatory tariffs on the United States if President Donald Trump follows through on a pledge to boost import taxes by 50% over the South American country’s criminal trial against his predecessor, Jair Bolsonaro.

President Trump accused the BRICS alliance of aiming to undermine the US dollar, warning that member countries would face a 10% tariff. He downplayed the bloc's threat, asserting the dollar's dominance and stating that any challenges would come at a high cost.

Trump and his aides have repeatedly shifted their stance on tariffs in the weeks since the president’s “Liberation Day” announcement.

Markets are seeking clarity on President Trump's tariffs, with the president targeting Aug. 1 for new country-specific tariffs.

The BRICS bloc of developing nations adopted a declaration on Sunday condemning increased unilateral tariffs — but avoided mentioning the United States or President Trump by name. The group’s

The BRICS bloc of developing nations on Sunday condemned the increase of tariffs and attacks on Iran, but refrained from naming U.S. President Donald Trump. The group's declaration, which also took aim at Israel's military actions in the Middle East,

The U.S. started imposing tariffs by letter to a variety of countries, pairing new rates with an explicit warning that even those could change at any time. Why it matters: After months of threats, President Trump is abruptly re-escalating the trade war.