The South African rand depreciated more than 1% to around 17.8 per USD, the lowest level since June 27, following remarks by U.S. President Donald Trump threatening a 10% tariff on countries aligning themselves with the BRICS bloc. Trump also reiterated previous warnings of imposing tariffs of up to 100% on BRICS nations should they abandon the U.S. dollar in bilateral trade, citing what he described as increasingly anti-American policies. He further warned other countries against joining the alliance. South Africa has already been hit with the 10% tariff, along with an additional 30% duty on certain imports, ahead of a temporary pause to allow for negotiations. The South African government has requested more time to reach a trade agreement with the Trump administration before the full tariff regime takes effect on July 9.