Trump: All BRICS Countries Including India To Face 10% Tariff; Threatens 200% Tariff On Pharma

US President Donald Trump has announced a 10% tariff on the BRICS nations including India. A day ahead of the expiry of the 90-day tariff pause, Trump said, the USA could have been much harsher and could have gone much higher with tariffs. He made key announcements on July 8, especially threatening sharp tariffs on pharmaceutical products and copper.

In a briefing on July 8, Trump said all members of BRICS to be charged with 10% tariffs, including India. He believes that BRICS was set up to hurt America and destroy the dollar.

Further, he announced a 50% tariff on copper. While he said, his cabinet will give a year and a half for tariffs on pharma, he threatened that the USA could explore 200% tariffs on pharma products.

Accordingly, pharma, metals and mining stocks will be in focus.

He added, "The US is picking out low and fair tariff numbers."

The 90-day pause of US Liberation Day tariffs will end on July 9. And many countries including India is expected to exchange discussions over trade tariffs and explore trade deals that benefit both USA and India.

Through his Truth Social account, Trump said, "As per letters sent to various countries yesterday, in addition to letters that will be sent today, tomorrow, and for the next short period of time, TARIFFS WILL START BEING PAID ON AUGUST 1, 2025. There has been no change to this date, and there will be no change. In other words, all money will be due and payable starting AUGUST 1, 2025 - No extensions will be granted. Thank you for your attention to this matter!"

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As per reports, India's trade negotiating team is likely to visit U.S soon for discussions on outstanding issues and sticking points, as per CNBC-TV18.

Trump's announcement comes after 2025 BRICS Summit that was held in Rio DE Janeiro.

Dr. Manoranjan Sharma, Chief Economist, Infomerics Valuation and Ratings Ltd highlighted one of the central concerns raised by BRICS was the increasing use of tariffs and trade barriers. The declaration criticized such policies as being out of step with World Trade Organization (WTO) rules, warning that they could stifle global trade, disrupt supply chains, and inject uncertainty into the international market. The bloc reiterated its commitment to a fair and inclusive global trading system, with special consideration for the needs of developing countries.

For India, Sharma had said, India's challenge is to balance its growing global stature with its longstanding principle of non-alignment-pushing for reform, inclusion, and cooperation without being drawn too far into great-power rivalries.

"India, in particular, must navigate a complex diplomatic maze. It supports the idea of a multipolar world but also values its partnerships with the West. As BRICS pushes for greater financial and political autonomy, India's role could be one of bridge-building, advocating reform while maintaining open channels with all sides," he said.

According to Sharma, for India, this changing landscape presents both opportunities and risks. On one hand, BRICS offers a platform to advance South-South cooperation, boost economic development, and support multipolar global governance. On the other, closer alignment with BRICS-especially when it's seen as pushing back against the West-could strain New Delhi's ties with strategic partners like the U.S., the EU, Japan, and Australia.

He added, India's foreign policy has long championed strategic autonomy, and this situation is no different. Rather than choosing sides, India is likely to take a pragmatic, case-by-case approach. While supporting initiatives that align with its development goals, India will probably avoid actions or rhetoric that could be seen as openly confrontational toward the West. At the same time, India is cautious of China's expanding influence within BRICS and will seek to ensure its own regional priorities remain protected.