President Donald Trump has threatened to impose a 10 percent tariff on any country aligned with the BRICS bloc, delivering a potential economic blow to Russia.

President Donald Trump continued to express his displeasure with Russian President Vladimir Putin on July 8 and said he was open to sanctioning him.

The Indian rupee is likely to open marginally higher on Tuesday, helped by the calm in Asian markets despite U.S. President Donald Trump imposing higher tariffs on South Korea and Japan among others.

President Trump announced potential trade deal with India amidst imposing reciprocal tariffs on several nations, including allies like Japan and South Korea. While India is spared from these tariffs,

Donald Trump administration announced a 25 per cent tariffs on Japan, South Korea, Kazakhstan, Malaysia, Tunisia. US announced 30 per cent on South Africa, Bosnia and Herzegovina and 32 per cent on Indonesia.