Trump Opens Key Trade Week With Fresh Tariff Threat

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  President Trump opens a key week for trade deals by threatening new tariffs on emerging market countries.

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  Plus, rescue efforts in central Texas face weather challenges following deadly flash floods.

• 00:15

  This is tough work.

• 00:16

  It's hot.

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  They're in the mud.

• 00:18

  They're removing debris.

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  There's snakes, there's water moccasins.

• 00:21

  This is God's work that they're doing.

• 00:24

  And Tesla shares drop after Elon Musk announces the formation of a new political party.

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  It's Monday, July 7th.

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  I'm Luke Vargas for The Wall Street Journal.

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  And here is the AM edition of What's News,

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  the top headlines and business stories moving your world today.

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  President Trump is threatening additional 10% tariffs on countries that align with the BRICS group of emerging markets,

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  which he accused of harboring anti-American policies.

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  Hours earlier, BRICS members gathered at an annual summit,

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  had signed a declaration voicing concern with tariffs and their effect on global trade and economic development.

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  Along with core members Brazil, Russia, India, China, and South Africa,

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  BRICS recently grew to include Egypt, Ethiopia, Indonesia,

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  Iran, Saudi Arabia, and the United Arab Emirates.

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