President Donald Trump has threatened new tariffs on any nation supporting “anti-American” policies of the BRICS group of emerging economies, as he announced tariff letters would be sent out to scores of countries from Monday,

President Donald Trump proposed a new 10% tariff on any product from countries that are part of the BRICS bloc, chucking a fiery new grenade into the global economy as the July 9 trade deadline moves closer.

AUGUST IS THE NEW JULY: The Trump administration is poised to push back its deadline to cement trade deals with dozens of countries and avoid the return of massive tariffs for another month. Letters with more details are going out to key partners starting today.

The dollar firmed against other major currencies on Monday, after remarks from U.S. officials offered little clarity on the outlook for tariffs, days ahead of a crucial deadline. Most U.S. trade partners face the prospect of steeper duties at the end of the 90-day moratorium on U.