- US actions lose between 0.5% and 0.8% while Trump points to the BRICs.
- The letters of the final commercial offer are sent to the negotiating partners on Monday.
- Scott Besent says that nations can continue negotiations until tariffs begin on August 1.
- Trump and Besent criticize the Musk movement to found the América party.
The American stock market rates opened down on Monday after the holiday of July 4 last Friday. The president of the USA, Donald Trump, threatened to impose another 10% tariff on the countries aligned with the BRICS, and the president said that their final commercial offers will be sent to the respective countries at 12:00 pm Est before its deadline of July 9.
President Truth account of President Trump on June 6, 2025
That deadline on Wednesday, which comes from the 90 -day break in Trump tariffs on April 9, seems to have been delayed a little after the Treasury Secretary, Scott Besent, said Sunday that the administration would consider the offers of the commercial partners until August 1, when they are scheduled to begin tariffs. In a sense, this extends in an unofficial way the deadline of tariffs for three weeks, which could help share markets.
He Dow Jones Industrial Average (Djia), S&P 500 (SPX) and Nasdaq Composite (Ixic) They retreated between 0.5% and 0.8% in Monday morning session.
American stock market news: Dow Jones, S&P 500, Nasdaq
The BRICS organization is seen by Trump and Washington as a competitor for global financial leadership with the G7, which represents the interests of seven mostly western nations. Originally covering Brazil, Russia, India, China and South Africa – where the acronym BRICS – Ethiopia, Iran, Egypt, the United Arab Emirates and Indonesia comes from have formally joined the organization. Ten partner states, including Nigeria, Malaysia and Vietnam, will probably join the group eventually, and nations as diverse as Saudi Arabia, Türkiye and Pakistan are considering invitations to join.
President Trump’s social account on July 6, 2025
Because Trump’s threat points to “any country that aligns with the antiestadounidenses policies of the BRICs”, it seems that 10% of additional tariff would affect at least 20 nations and possibly 29.
Vietnam was able to obtain a commercial agreement last week that left a 20% tariff in exports to the US, which was better than the 46% rate that the Trump administration revealed in early April. However, Trump’s new threat could raise it to 30%.
In other news, Elon Musk’s announcement about a new political party – the América party – during the weekend has hit the price of the shares of Tesla (Tsla). Tesla’s actions fell up to 8% on Monday after Besent and Trump belittled the concept of Musk party, that the Tesla CEO said it was necessary after the president’s republican party approved a tax bill that inflated the national deficit.
The CEO of Azoria, James Fishback, delayed the ETF focused on Tesla from its firm Azoria Partners after Fishback criticized the Musk movement and suggested that the Tesla Board should limit its political proposals.
A positive point for the actions is that Scott Besent said in the State of the Union of CNN on Sunday, “we will be very busy in the next 72 hours.” This was interpreted as This week could see formalized trade agreements with about 18 nations with which the US is negotiating. South Korea has requested an extension of the deadline, and Trump has complained about negotiations with Japan in recent weeks.
Nasdaq Composite YTD Performance (Japanese candles), S&P 500 (red), Dow Jones (Purple)
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
