The China Mail - BRICS nations voice 'serious concerns' over Trump tariffs

USD -
AED 3.672501
AFN 66.240603
ALL 83.177072
AMD 382.120536
ANG 1.790055
AOA 916.999657
ARS 1406.024298
AUD 1.5311
AWG 1.8
AZN 1.698478
BAM 1.682293
BBD 2.013023
BDT 122.133531
BGN 1.68091
BHD 0.377076
BIF 2949.904523
BMD 1
BND 1.30133
BOB 6.906191
BRL 5.288986
BSD 0.999415
BTN 88.626159
BWP 14.228698
BYN 3.409228
BYR 19600
BZD 2.010098
CAD 1.40289
CDF 2137.510825
CHF 0.792404
CLF 0.023765
CLP 932.280175
CNY 7.11275
CNH 7.09747
COP 3763.8
CRC 500.954773
CUC 1
CUP 26.5
CVE 94.845086
CZK 20.825999
DJF 177.974849
DKK 6.42812
DOP 64.374065
DZD 130.133521
EGP 47.198502
ERN 15
ETB 154.851967
EUR 0.86078
FJD 2.27535
FKP 0.757017
GBP 0.76063
GEL 2.702208
GGP 0.757017
GHS 10.942163
GIP 0.757017
GMD 72.999677
GNF 8675.532006
GTQ 7.660548
GYD 209.038916
HKD 7.771365
HNL 26.293244
HRK 6.484697
HTG 130.932925
HUF 331.4225
IDR 16723.25
ILS 3.229575
IMP 0.757017
INR 88.691503
IQD 1309.32925
IRR 42112.502587
ISK 126.709866
JEP 0.757017
JMD 160.523667
JOD 0.708999
JPY 154.371502
KES 129.249793
KGS 87.450205
KHR 4008.600301
KMF 425.000207
KPW 900.02171
KRW 1452.589763
KWD 0.30659
KYD 0.832889
KZT 523.891035
LAK 21687.96986
LBP 89501.453663
LKR 306.559549
LRD 181.398269
LSL 17.1411
LTL 2.95274
LVL 0.60489
LYD 5.452575
MAD 9.241164
MDL 16.871097
MGA 4468.509694
MKD 52.917244
MMK 2099.568332
MNT 3578.06314
MOP 8.000774
MRU 39.575771
MUR 45.650112
MVR 15.40503
MWK 1733.042027
MXN 18.34866
MYR 4.132498
MZN 63.960137
NAD 17.1411
NGN 1441.890154
NIO 36.780265
NOK 10.080255
NPR 141.801854
NZD 1.760205
OMR 0.384511
PAB 0.999415
PEN 3.370349
PGK 4.225982
PHP 59.00804
PKR 282.521891
PLN 3.637201
PYG 7042.096028
QAR 3.643135
RON 4.377298
RSD 100.870996
RUB 80.891687
RWF 1452.717232
SAR 3.749984
SBD 8.237372
SCR 13.656496
SDG 601.497242
SEK 9.44298
SGD 1.29873
SHP 0.750259
SLE 23.374976
SLL 20969.498139
SOS 570.19732
SRD 38.589499
STD 20697.981008
STN 21.073819
SVC 8.745205
SYP 11058.869089
SZL 17.134452
THB 32.4305
TJS 9.225
TMT 3.5
TND 2.938809
TOP 2.40776
TRY 42.330005
TTD 6.777226
TWD 30.733982
TZS 2439.999946
UAH 42.001858
UGX 3567.926508
UYU 39.765005
UZS 12032.720329
VES 233.26555
VND 26350
VUV 121.860911
WST 2.809778
XAF 564.142765
XAG 0.019592
XAU 0.000245
XCD 2.70255
XCG 1.801252
XDR 0.704774
XOF 564.230111
XPF 102.582188
YER 238.496025
ZAR 17.112702
ZMK 9001.194587
ZMW 22.46297
ZWL 321.999592
  • RBGPF

    -2.8200

    75.65

    -3.73%

  • CMSD

    0.1472

    23.99

    +0.61%

  • SCS

    0.0800

    15.7

    +0.51%

  • CMSC

    -0.0100

    23.82

    -0.04%

  • NGG

    -0.7100

    77.38

    -0.92%

  • RYCEF

    -0.4500

    14.55

    -3.09%

  • RIO

    -0.4100

    70.63

    -0.58%

  • GSK

    -0.5429

    47.18

    -1.15%

  • AZN

    0.4900

    89.1

    +0.55%

  • BTI

    -0.3500

    54.13

    -0.65%

  • VOD

    -0.0900

    12.32

    -0.73%

  • BCC

    -0.1400

    69.04

    -0.2%

  • RELX

    -0.0900

    41.33

    -0.22%

  • BCE

    -0.2800

    22.83

    -1.23%

  • JRI

    0.0135

    13.65

    +0.1%

  • BP

    0.5392

    36.53

    +1.48%

BRICS nations voice 'serious concerns' over Trump tariffs
BRICS nations voice 'serious concerns' over Trump tariffs / Photo: © AFP

BRICS nations voice 'serious concerns' over Trump tariffs

BRICS leaders meeting in Rio de Janeiro from Sunday are expected to decry US President Donald Trump's "indiscriminate" trade tariffs, saying they are illegal and risk hurting the global economy.

Text size:

Emerging nations, which represent about half the world's population and 40 percent of global economic output, are set to unite over "serious concerns" about US import tariffs, according to a draft summit statement obtained by AFP.

Since coming to office in January, Trump has threatened allies and rivals alike with a slew of punitive duties.

His latest salvo comes in the form of letters informing trading partners of new tariff rates that will soon enter into force.

The draft summit declaration does not mention the United States or its president by name.

But it is a clear political shot directed at Washington from 11 emerging nations, including Brazil, Russia, India, China and South Africa.

"We voice serious concerns about the rise of unilateral tariff and non-tariff measures which distort trade and are inconsistent with WTO (World Trade Organization) rules," the draft text says.

It warns that such measures "threaten to further reduce global trade" and are "affecting the prospects for global economic development."

- Xi no show -

Conceived two decades ago as a forum for fast-growing economies, the BRICS have come to be seen as a Chinese-driven counterbalance to Western power.

But the two-day summit's political punch will be depleted by the absence of China's Xi Jinping, who is skipping the annual meeting for the first time in his 12 years as president.

"I expect there will be speculation about the reasons for Xi's absence," said Ryan Hass, a former China director at the US National Security Council who is now with the Brookings Institution think tank.

"The simplest explanation may hold the most explanatory power. Xi recently hosted Lula in Beijing," said Hass.

The Chinese leader will not be the only notable absentee. War crime-indicted Russian President Vladimir Putin is also opting to stay away, but will participate via video link, according to the Kremlin.

Hass said Putin's non-attendance and the fact that Indian Prime Minister Narendra Modi will be a guest of honor in Brazil could also be factors in Xi's absence.

"Xi does not want to appear upstaged by Modi," who will receive a state lunch, he said.

"I expect Xi's decision to delegate attendance to Premier Li (Qiang) rests amidst these factors."

Still, the Xi no-show is a blow to host President Luiz Inacio Lula da Silva, who wants Brazil to play a bigger role on the world stage.

In the year to November 2025, Brazil will have hosted a G20 summit, a BRICS summit, and COP30 international climate talks, all before heading into fiercely contested presidential elections next year, in which he is expected to run.

Iran's President Masoud Pezeshkian, whose nation is still reeling from a 12-day conflict with Israel, is also skipping the meeting.

A source familiar with the negotiations said the BRICS countries were divided over how to respond to the wars in Gaza and between Iran and Israel.

Iranian negotiators were pushing for a tougher collective stance that goes beyond referencing the need for the creation of a Palestinian state and for disputes to be resolved peacefully.

But one diplomatic source said the text would give the "same message" that BRICS delivered in June when Iran was being bombed by Israel and the United States, expressing "concern."

Artificial intelligence and health will also be on the agenda at the summit.

Original members of the bloc Brazil, Russia, India, and China have been joined by South Africa and, more recently, by Saudi Arabia, Iran, the United Arab Emirates, Egypt, Ethiopia and Indonesia.

P.Ho--ThChM