Asia stock markets declined on Monday after President Trump confirmed that significant tariffs will start on August 1, not July 9. Treasury Secretary Bessent mentioned tariffs would return to April 2 levels for non-agreement countries.

President Trump said the U.S. would impose higher charges on imports from countries that follow the "anti-American policies" of major emerging economies including Brazil, China and Russia. "Any Country aligning themselves with the Anti-American policies of BRICS,