The Prague Post - BRICS nations to denounce Trump tariffs

EUR -
AED 4.325935
AFN 82.295246
ALL 97.926243
AMD 452.928874
ANG 2.108041
AOA 1080.157743
ARS 1450.537772
AUD 1.798908
AWG 2.12321
AZN 2.007149
BAM 1.955925
BBD 2.378252
BDT 144.489211
BGN 1.955925
BHD 0.443228
BIF 3509.023701
BMD 1.177925
BND 1.500096
BOB 8.139519
BRL 6.38271
BSD 1.177875
BTN 100.523408
BWP 15.600995
BYN 3.854646
BYR 23087.331819
BZD 2.365951
CAD 1.603098
CDF 3398.314319
CHF 0.935405
CLF 0.028538
CLP 1095.129815
CNY 8.440309
CNH 8.439249
COP 4689.39895
CRC 594.837921
CUC 1.177925
CUP 31.215015
CVE 110.27203
CZK 24.646321
DJF 209.743371
DKK 7.461454
DOP 70.494494
DZD 152.109697
EGP 58.022699
ERN 17.668876
ETB 163.469121
FJD 2.637615
FKP 0.863276
GBP 0.862601
GEL 3.204416
GGP 0.863276
GHS 12.190777
GIP 0.863276
GMD 84.22618
GNF 10215.651249
GTQ 9.056577
GYD 246.42571
HKD 9.24601
HNL 30.773962
HRK 7.536412
HTG 154.649859
HUF 399.203326
IDR 19062.0084
ILS 3.944853
IMP 0.863276
INR 100.708477
IQD 1542.998366
IRR 49620.09495
ISK 142.446936
JEP 0.863276
JMD 188.001985
JOD 0.835195
JPY 170.179596
KES 152.179701
KGS 103.010002
KHR 4732.301685
KMF 492.373101
KPW 1060.088497
KRW 1604.946949
KWD 0.359609
KYD 0.981663
KZT 611.718997
LAK 25381.61808
LBP 105536.527962
LKR 353.392529
LRD 236.165056
LSL 20.719221
LTL 3.478107
LVL 0.712516
LYD 6.344404
MAD 10.572174
MDL 19.841265
MGA 5300.337897
MKD 61.533923
MMK 2472.967489
MNT 4223.442545
MOP 9.523607
MRU 46.74898
MUR 52.948179
MVR 18.14445
MWK 2042.530211
MXN 21.945864
MYR 4.972067
MZN 75.340533
NAD 20.719221
NGN 1802.15516
NIO 43.342763
NOK 11.881146
NPR 160.837253
NZD 1.940089
OMR 0.452069
PAB 1.177875
PEN 4.176666
PGK 4.86531
PHP 66.570482
PKR 334.365716
PLN 4.243888
PYG 9386.598396
QAR 4.304974
RON 5.059075
RSD 117.187471
RUB 92.85592
RWF 1693.207942
SAR 4.416905
SBD 9.820272
SCR 16.592058
SDG 707.348348
SEK 11.264384
SGD 1.500092
SHP 0.925664
SLE 26.444855
SLL 24700.50455
SOS 673.142913
SRD 44.036774
STD 24380.6712
SVC 10.306657
SYP 15315.211479
SZL 20.70332
THB 38.118091
TJS 11.45473
TMT 4.134517
TND 3.431819
TOP 2.758823
TRY 46.91719
TTD 7.988509
TWD 34.086841
TZS 3109.79825
UAH 49.123132
UGX 4225.269361
USD 1.177925
UYU 47.273014
UZS 14790.942924
VES 128.951587
VND 30838.07893
VUV 140.323223
WST 3.056689
XAF 655.99882
XAG 0.031783
XAU 0.000353
XCD 3.183402
XDR 0.815852
XOF 655.99882
XPF 119.331742
YER 285.234989
ZAR 20.734144
ZMK 10602.74357
ZMW 28.533819
ZWL 379.291399
  • CMSC

    0.0900

    22.314

    +0.4%

  • CMSD

    0.0250

    22.285

    +0.11%

  • RBGPF

    0.0000

    69.04

    0%

  • SCS

    0.0400

    10.74

    +0.37%

  • RELX

    0.0300

    53

    +0.06%

  • RIO

    -0.1400

    59.33

    -0.24%

  • GSK

    0.1300

    41.45

    +0.31%

  • NGG

    0.2700

    71.48

    +0.38%

  • BP

    0.1750

    30.4

    +0.58%

  • BTI

    0.7150

    48.215

    +1.48%

  • BCC

    0.7900

    91.02

    +0.87%

  • JRI

    0.0200

    13.13

    +0.15%

  • VOD

    0.0100

    9.85

    +0.1%

  • BCE

    -0.0600

    22.445

    -0.27%

  • RYCEF

    0.1000

    12

    +0.83%

  • AZN

    -0.1200

    73.71

    -0.16%

BRICS nations to denounce Trump tariffs
BRICS nations to denounce Trump tariffs / Photo: Pablo PORCIUNCULA - AFP

BRICS nations to denounce Trump tariffs

BRICS leaders meeting in Rio de Janeiro from Sunday are expected to decry Donald Trump's hardline trade policies, but are struggling to bridge divides over crises roiling the Middle East.

Text size:

Emerging nations representing about half the world's population and 40 percent of global economic output are set to unite over what they see as unfair US import tariffs, according to sources familiar with summit negotiations.

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

His latest salvo comes in the form of letters due to be sent starting Friday informing trading partners of new tariff rates expected next week on July 9.

Diplomats from 11 emerging nations, including Brazil, Russia, India, China and South Africa, have been busy drafting a statement condemning the economic uncertainty.

Any final summit declaration is not expected to mention the United States or its president by name. But it is expected to be a clear political shot directed at Washington.

"We're anticipating a summit with a cautious tone: it will be difficult to mention the United States by name in the final declaration," Marta Fernandez, director of the BRICS Policy Center at Rio's Pontifical Catholic University said.

This is particularly the case for China, which has only recently negotiated with the US to lower steep tit-for-tat levies.

"This doesn't seem to be the right time to provoke further friction" between the world's two leading economies, Fernandez said.

- 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 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 India's prime minister 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.

- Middle path -

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 still in disagreement over how to respond to the wars in Gaza and between Iran and Israel.

Iranian negotiators are 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.

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.

Analysts say that it has given the grouping more potential international punch.

But it has also opened many new fault lines.

Brazil hopes that countries can take a common stand at the summit, including on the most sensitive issues.

"BRICS (countries), throughout their history, have managed to speak with one voice on major international issues, and there's no reason why that shouldn't be the case this time on the subject of the Middle East," Brazil's Foreign Minister Mauro Vieira told AFP.

J.Marek--TPP