He added that BRICS-aligned nations will face an additional 10% tariff.
After days of Republican drama, the House on Thursday passed President Donald Trump's sweeping tax cut and spending bill.
Trump helped Speaker Mike Johnson pressure GOP holdouts into flipping their no votes to allow the measure to go forward in time to meet the president's self-imposed July Fourth deadline.
Three Senate Republicans joined Democrats in voting against the legislation: Susan Collins of Maine, Rand Paul of Kentucky and Thom Tillis of North Carolina.
Paul took issue with how much the bill is projected to add to the national debt. Meanwhile, Collins and Tillis had concerns about the impacts the measure would have on rural hospitals and Medicaid.
The Senate voted 50-50 on Trump's megabill. Vice President JD Vance cast the tie-breaking vote to pass the massive tax and immigration bill.
A final vote on Trump's megabill is now underway in the Senate. It needs 51 votes to pass. Some Republican senators to watch are Susan Collins, Lisa Murkowski, Ron Johnson and Rand Paul.
Vice President JD Vance is now presiding in the president's chair in the Senate.
Vance cast a tie-breaking vote on a perfecting amendment from Republican Sen. Lindsey Graham.
