The Prague Post - Trump trade war dominates BRICS meeting in Brazil

EUR -
AED 4.174101
AFN 75.014707
ALL 93.659818
AMD 416.186309
AOA 1043.383324
ARS 1701.382878
AUD 1.631908
AWG 2.048691
AZN 1.935652
BAM 1.954327
BBD 2.293382
BDT 140.564053
BHD 0.429082
BIF 3401.381175
BMD 1.136583
BND 1.468912
BOB 12.815341
BRL 5.815781
BSD 1.138647
BTN 109.149731
BWP 15.633354
BYN 3.266424
BYR 22277.03319
BZD 2.290124
CAD 1.605037
CDF 2568.678471
CHF 0.931087
CLF 0.027161
CLP 1068.968346
CNY 7.690234
CNH 7.693129
COP 3643.84068
CRC 518.209411
CUC 1.136583
CUP 30.119458
CVE 110.181953
CZK 24.161372
DJF 202.76806
DKK 7.475223
DOP 66.250066
DZD 151.670121
EGP 57.661603
ERN 17.04875
ETB 182.083249
FJD 2.537653
FKP 0.853163
GBP 0.855432
GEL 2.978122
GGP 0.853163
GHS 13.25401
GIP 0.853163
GMD 84.107184
GNF 9990.777334
GTQ 8.688451
GYD 238.130515
HKD 8.913371
HNL 30.551393
HRK 7.53464
HTG 148.849772
HUF 360.221932
IDR 20566.475284
ILS 3.48323
IMP 0.853163
INR 108.89889
IQD 1488.924157
IRR 1562944.145828
ISK 142.583868
JEP 0.853163
JMD 180.14422
JOD 0.805871
JPY 186.093928
KES 147.312107
KGS 99.393974
KHR 4599.593863
KMF 492.14044
KRW 1661.582213
KWD 0.352773
KYD 0.948876
KZT 541.077415
LAK 25809.31973
LBP 101967.195961
LKR 382.888038
LRD 206.094661
LSL 19.083094
LTL 3.356036
LVL 0.687508
LYD 7.279861
MAD 10.647489
MDL 20.011741
MGA 4898.674156
MKD 61.478662
MMK 2386.301133
MNT 4082.06367
MOP 9.197287
MRU 45.456338
MUR 53.976172
MVR 17.571848
MWK 1973.108647
MXN 19.864634
MYR 4.646375
MZN 72.63927
NAD 19.082945
NGN 1553.527673
NIO 41.763734
NOK 10.993258
NPR 174.63937
NZD 1.971819
OMR 0.437018
PAB 1.138642
PEN 3.868925
PGK 4.995245
PHP 70.062976
PKR 315.811189
PLN 4.323472
PYG 6885.840245
QAR 4.142279
RON 5.23135
RSD 117.396569
RUB 88.654259
RWF 1665.094573
SAR 4.259901
SBD 9.166144
SCR 15.938257
SDG 682.517999
SEK 11.062149
SGD 1.46942
SLE 27.562012
SOS 650.709542
SRD 42.884437
STD 23524.980096
STN 24.891175
SVC 9.963403
SZL 19.077578
THB 38.262507
TJS 10.509878
TMT 3.989407
TND 3.369934
TRY 53.849727
TTD 7.733103
TWD 36.865083
TZS 3000.572078
UAH 51.139305
UGX 4275.77723
USD 1.136583
UYU 45.725535
UZS 13648.092807
VES 843.210697
VND 29928.51214
VUV 135.35381
WST 3.132788
XAF 655.46296
XAG 0.019876
XAU 0.000281
XCD 3.071674
XCG 2.052135
XDR 0.815193
XOF 651.832844
XPF 119.331742
YER 270.677493
ZAR 19.098754
ZMK 10230.618997
ZMW 21.276431
ZWL 365.979367
  • RBGPF

    0.0000

    66

    0%

  • CMSC

    0.0250

    21.75

    +0.11%

  • BCC

    0.3800

    78.22

    +0.49%

  • RYCEF

    0.5600

    18.73

    +2.99%

  • BCE

    -0.0600

    21.24

    -0.28%

  • GSK

    0.6300

    51.98

    +1.21%

  • CMSD

    0.0700

    22.05

    +0.32%

  • RELX

    1.2400

    35.65

    +3.48%

  • RIO

    0.7300

    91.95

    +0.79%

  • NGG

    -1.0900

    81.21

    -1.34%

  • JRI

    -0.1500

    12.91

    -1.16%

  • AZN

    0.3800

    169.64

    +0.22%

  • VOD

    0.6500

    15.8

    +4.11%

  • BP

    -1.5100

    42.31

    -3.57%

  • BTI

    -0.1400

    60.82

    -0.23%

Trump trade war dominates BRICS meeting in Brazil
Trump trade war dominates BRICS meeting in Brazil / Photo: Pablo PORCIUNCULA - AFP

Trump trade war dominates BRICS meeting in Brazil

The foreign ministers of Brazil, China, Russia and other BRICS members began two days of talks in Rio de Janeiro Monday aimed at forging a united front to US President Donald Trump's aggressive trade policies.

Text size:

The meeting comes at a critical moment for the world economy after the International Monetary Fund slashed growth forecasts over the impact of the US leader's sweeping new tariffs.

Top diplomats from the 11-member bloc -- which includes Egypt, Ethiopia, India, Indonesia, Iran, Saudi Arabia, South Africa and the United Arab Emirates -- met to hone their agenda ahead of a July leaders summit.

Brazilian Foreign Minister Mauro Vieira stressed the importance of dialogue at a time of "humanitarian crises, armed conflicts, political instability and the erosion of multilateralism."

BRICS's "role as a group is more important than ever," he said.

Trump, since returning to the White House in January, has hit dozens of countries with a blanket 10 percent tariff, but China faces levies of up to 145 percent on many products.

Beijing has responded with duties of 125 percent on US goods.

Senior Chinese economic planner Zhao Chenxin said in Beijing Monday the country was on the "right side of history" in the face of what he called Washington's "unilateralism and bullying."

BRICS has expanded significantly since its 2009 inception as a group of four powers -- Brazil, Russia, India and China -- seeking an alternative platform to Western-led international organizations such as the G7.

It now makes up nearly half of the global population, 39 percent of global GDP and weighs in on issues from Ukraine to Gaza to global trade.

Vieira opened the talks with a call for a "complete withdrawal" of Israeli forces from Gaza, terming Israel's more than 50-day aid blockade of the territory "unacceptable."

The group has had generally less to say about the war in Ukraine, issuing general calls for peace while steering clear of condemning Russia's invasion.

And Vieira on Monday called for a "diplomatic solution" which respects the "principles and objectives" of the UN charter.

- Russian ceasefire -

The meeting comes at the start of what the United States has called a "critical week" for talks on ending the Ukraine war.

Trump appeared to turn against Putin at the weekend after a meeting with Ukrainian President Volodymyr Zelensky at Pope Francis's funeral, saying he felt the Russian leader was "just tapping me along."

Russian President Vladimir Putin responded by announcing a three-day ceasefire from May 8-10.

The White House, however, suggested the pause was not sufficient, saying Trump had "made it clear he wants to see a permanent ceasefire first."

At the same time the US president has been piling pressure on Kyiv to give up hopes of reclaiming Russian-annexed Crimea.

A BRICS challenge to the hegemony of the dollar is expected to feature high on the agenda.

At a summit last year, BRICS members discussed boosting non-dollar transactions, eliciting a swift rebuke from Trump who threatened them with 100 percent tariffs if they undercut the US currency.

Speaking to Brazil's O Globo newspaper ahead of the meeting, Russian Foreign Minister Sergei Lavrov said BRICS nations planned to "increase the share of national currencies in transactions" between member states but said talk of transitioning towards a unified BRICS currency was "premature."

Vieira, whose country has so far been spared the worst of Trump's trade ire -- Brazilian imports to the US are subject to 10 percent tariffs, a fraction of those imposed on China -- also denied any plans to create a new currency.

The BRICS will be joined for discussions on Tuesday by nine other "partner" countries, including several former Soviet states, as well as Cuba, Malaysia, Thailand, Uganda and Nigeria.

K.Dudek--TPP