The South African rand fell in early trade on Monday as markets reacted to U.S. President Donald Trump's threat to impose additional tariffs on BRICS-aligned countries. Trump said on Sunday in a post on Truth Social that countries aligning themselves with the "anti-American policies" of BRICS will be charged an additional 10% tariff,

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,

"Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy. Thank you for your attention to this matter!