The Trump administration will not immediately impose a new 10% tariff against members of the developing nation BRICS bloc, but will proceed if countries take so-called "anti-American" policy actions,

President Donald Trump threatened to add a 10% tariff rate on BRICS-aligned countries. The term first applied to 4 countries but the group expanded.

The president's statement comes as the trading bloc including Brazil, Russia, India, China, and South Africa (BRICS) is meeting in Rio de Janeiro this week.