BRICS leaders meeting in Rio de Janeiro from Sunday (July 6, 2025) are expected to decry Donald Trump’s hardline trade policies but are struggling to bridge divides over crises roiling the Middle East.

U.S. President Donald Trump said on Friday his administration later in the day will begin sending letters to 10 to 12 countries informing them of the tariff rate their products will face in the United States.

With just five days remaining in the tariff moratorium, the White House is expected to begin delivering a message to a dozen or so countries: Time is up, and here’s your new rate.

China spared major cognac producers Pernod Ricard, LVMH and Remy Cointreau from hefty duties on EU brandy on Friday, a rare bright spot at a time of trade tensions between Brussels and Beijing as the two sides row over tariffs on Chinese-made EVs.

The move comes as China’s foreign minister is touring Belgium, France and Germany in an effort to bolster ties with the bloc amid a trade spat with Washington.