The U.S. dollar held steady against most major currencies during Tuesday trading amid the ongoing trade escalation led by President Donald Trump's administration against other economies.

President Donald Trump had earlier warned countries aligning with the BRICS alliances policies which conflict with American interests that they would face additional tariffs of 10%.

Trump wrote on social media: Any country that aligns with BRICSs anti-American policies will face an additional 10% tariff. There will be no exceptions to this policy.

Trump has long criticized the BRICS group, which includes China, Russia, and India among its members.

The United States had initially set July 9 as a deadline for countries to reach trade agreements, but U.S. officials now say tariffs will begin on August 1. Trump stated that he will send letters to countries informing them of the tariff rates if no agreements are reached.

However, on Monday, President Donald Trump announced that his administration will impose 25% tariffs on imports from South Korea and Japan starting August 1, as part of a new batch of letters to be sent to several foreign nations.

The White House also confirmed on Monday that President Trump will sign an executive order extending the temporary freeze on so-called reciprocal tariffs until August 1, granting targeted countries an additional three-week window to reach trade deals with the United States.

President Donald Trumps administration has already notified 14 countries of new tariffs ranging between 25% and 40%, effective August 1.

As for trading levels, the dollar index remained weakly stable as of 11:06 GMT at 97.4 points, with a session high at 97.5 and a low at 97.1 points.