BRICS nations voice ‘serious concerns' over Trump tariffs
RIO DE JANEIRO: BRICS leaders meeting in Rio de Janeiro on Sunday were poised to decry US President Donald Trump's 'indiscriminate' trade tariffs, saying they are illegal and risk hurting the global economy. Emerging nations, which represent about half the world's population and 40 percent of global economic output, have united over 'serious concerns' about US import tariffs, according to a draft summit statement obtained by AFP on Saturday.
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, and could yet be amended by leaders gathering for talks Sunday and Monday. 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.' 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.
Finance ministers from the BRICS group of developing nations called on Saturday for reform of the International Monetary Fund, including a new distribution of voting rights and an end to the tradition of European management at the helm. The joint statement by the group's finance ministers marks the first time the BRICS countries have agreed on a unified position on the proposed reforms. They agreed to back the shared proposal at an IMF review meeting coming up in December, which will discuss changes to a quota system that defines contributions and voting rights.
'Quota realignment should reflect members' relative positions in the global economy, while protecting the quota shares of the poorest members,' the ministers wrote in their statement after meetings in Rio de Janeiro, adding that the new formula should increase quotas for developing countries. 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.
That absence has prompted fevered speculation in some quarters. 'The simplest explanation may hold the most explanatory power. Xi recently hosted Lula in Beijing,' said Ryan Hass, a former China director at the US National Security Council who is now with the Brookings Institution think tank.
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. Lula warmly welcomed leaders and dignitaries on Saturday, including China's Premier Li Qiang, as the leftist president hosted a pre-summit business forum in Rio.
'Faced with the resurgence of protectionism, it is up to emerging countries to defend the multilateral trade regime and reform the international financial architecture,' Lula told the event. Iran's President Masoud Pezeshkian, whose nation is still reeling from a 12-day conflict with Zionist entity, is also skipping the meeting and will be represented by Foreign Minister Abbas Araghchi. A source familiar with the negotiations said Iran had sought a tougher condemnation of Zionist entity and the United States over their recent bombing of Iranian military, nuclear and other sites. But one diplomatic source said the text would give the 'same message' that BRICS delivered last month. Then Iran's allies expressed 'grave concern' about strikes against Iran, but did not explicitly mention Israel or the United States. 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, Saudi Arabia, Iran, the United Arab Emirates, Egypt, Ethiopia and Indonesia. — Agencies
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