The Prague Post - BRICS nations voice 'serious concerns' over Trump tariffs

EUR -
AED 4.309937
AFN 79.974464
ALL 96.94329
AMD 448.468957
ANG 2.101161
AOA 1076.162683
ARS 1681.072535
AUD 1.778674
AWG 2.112424
AZN 1.989985
BAM 1.955665
BBD 2.363136
BDT 142.790116
BGN 1.955665
BHD 0.442269
BIF 3501.55762
BMD 1.173569
BND 1.505196
BOB 8.107439
BRL 6.274369
BSD 1.173319
BTN 103.496836
BWP 15.629918
BYN 3.974125
BYR 23001.947791
BZD 2.359737
CAD 1.626625
CDF 3327.067262
CHF 0.935029
CLF 0.028454
CLP 1116.252732
CNY 8.361326
CNH 8.360997
COP 4566.883877
CRC 591.059087
CUC 1.173569
CUP 31.099572
CVE 110.257368
CZK 24.324325
DJF 208.935537
DKK 7.46466
DOP 74.384851
DZD 151.793493
EGP 56.3471
ERN 17.603531
ETB 168.467439
FJD 2.62727
FKP 0.865717
GBP 0.865687
GEL 3.157245
GGP 0.865717
GHS 14.314009
GIP 0.865717
GMD 83.908281
GNF 10176.29559
GTQ 8.995377
GYD 245.473008
HKD 9.154189
HNL 30.739872
HRK 7.534776
HTG 153.529373
HUF 390.892031
IDR 19255.798937
ILS 3.914984
IMP 0.865717
INR 103.599717
IQD 1537.093601
IRR 49377.905898
ISK 143.234146
JEP 0.865717
JMD 188.216972
JOD 0.832053
JPY 173.518018
KES 151.589507
KGS 102.628829
KHR 4702.674478
KMF 492.314003
KPW 1056.252107
KRW 1634.816571
KWD 0.358373
KYD 0.977832
KZT 634.446083
LAK 25441.238941
LBP 105070.726938
LKR 354.015495
LRD 208.265584
LSL 20.36339
LTL 3.465243
LVL 0.70988
LYD 6.335561
MAD 10.566169
MDL 19.488651
MGA 5199.640078
MKD 61.53574
MMK 2464.299154
MNT 4220.177636
MOP 9.405549
MRU 46.838758
MUR 53.374273
MVR 17.967305
MWK 2034.459173
MXN 21.628694
MYR 4.934849
MZN 75.002649
NAD 20.36339
NGN 1763.051164
NIO 43.177011
NOK 11.571502
NPR 165.594537
NZD 1.974542
OMR 0.449869
PAB 1.173319
PEN 4.089017
PGK 4.972656
PHP 67.092541
PKR 333.122841
PLN 4.252206
PYG 8384.419625
QAR 4.283204
RON 5.066336
RSD 117.131892
RUB 97.763233
RWF 1700.182312
SAR 4.402764
SBD 9.631337
SCR 16.690845
SDG 705.894664
SEK 10.933907
SGD 1.509089
SHP 0.922241
SLE 27.432182
SLL 24609.154515
SOS 670.553584
SRD 46.209317
STD 24290.504006
STN 24.498304
SVC 10.266289
SYP 15258.684042
SZL 20.343592
THB 37.214153
TJS 11.040936
TMT 4.119226
TND 3.415564
TOP 2.748616
TRY 48.499492
TTD 7.977448
TWD 35.559012
TZS 2886.400202
UAH 48.371352
UGX 4123.714554
USD 1.173569
UYU 46.996747
UZS 14604.989033
VES 186.280981
VND 30964.61186
VUV 139.571972
WST 3.224613
XAF 655.911597
XAG 0.027823
XAU 0.000322
XCD 3.171628
XCG 2.114654
XDR 0.815744
XOF 655.911597
XPF 119.331742
YER 281.128051
ZAR 20.415751
ZMK 10563.526792
ZMW 27.837073
ZWL 377.888663
  • RBGPF

    0.0000

    77.27

    0%

  • NGG

    0.5300

    71.6

    +0.74%

  • BCC

    -3.3300

    85.68

    -3.89%

  • AZN

    -1.5400

    79.56

    -1.94%

  • BTI

    -0.7200

    56.59

    -1.27%

  • JRI

    0.1100

    14.23

    +0.77%

  • GSK

    -0.6500

    40.83

    -1.59%

  • CMSC

    -0.0200

    24.36

    -0.08%

  • RELX

    0.1700

    46.5

    +0.37%

  • SCS

    -0.1900

    16.81

    -1.13%

  • RIO

    -0.1000

    62.44

    -0.16%

  • CMSD

    0.0100

    24.4

    +0.04%

  • RYCEF

    0.1800

    15.37

    +1.17%

  • VOD

    -0.0100

    11.85

    -0.08%

  • BCE

    -0.1400

    24.16

    -0.58%

  • BP

    -0.5800

    33.89

    -1.71%

BRICS nations voice 'serious concerns' over Trump tariffs
BRICS nations voice 'serious concerns' over Trump tariffs / Photo: Daniel RAMALHO - 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.

T.Kolar--TPP