“Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy,” Mr. Trump said in a Truth Social post. He did not elaborate, nor did he say what BRICS policies he was referring to.

Asian equities started the week on a downbeat note, as remarks by President Trump stirred up already-tense markets bracing for tariffs to hit dozens of countries this week.

President Donald Trump has sent out around two dozen tariff letters in the past week, and one of the latest ones went to the European Union, threatening a 30% tariff on imports to the U.S. beginning Aug.