Trump threatens extra 10% tariffs on Brics as leaders meet in Brazil
The group expressed "grave concern" for the Palestinian people over Israeli attacks on Gaza, and condemned what the joint statement called a "terrorist attack" in India-administered Kashmir.
The group voiced its support for Ethiopia and Iran to join the World Trade Organisation, while calling to urgently restore its ability to resolve trade disputes.
The leaders' joint statement backed plans to pilot a Brics multilateral guarantees initiative within the group's New Development Bank to lower financing costs and boost investment in member states, as first reported by Reuters last week.
In a separate statement after a discussion about artificial intelligence, the leaders called for protections against unauthorised use of AI to avoid excessive data collection and allow mechanisms for fair payment.
Brazil, which also hosts the UN climate summit in November, has seized on the two gatherings to highlight how seriously developing nations are tackling climate change, while Trump has slammed the brakes on US climate initiatives. China and the UAE signaled in meetings with Brazilian finance minister Fernando Haddad in Rio that they plan to invest in a proposed tropical forests forever facility, according to two sources with knowledge of the discussions about funding conservation of endangered forests around the world.
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Trump threatens extra 10% tariffs on Brics as leaders meet in Brazil
In the joint statement, the leaders called attacks against Iran's "civilian infrastructure and peaceful nuclear facilities" a "violation of international law". The group expressed "grave concern" for the Palestinian people over Israeli attacks on Gaza, and condemned what the joint statement called a "terrorist attack" in India-administered Kashmir. The group voiced its support for Ethiopia and Iran to join the World Trade Organisation, while calling to urgently restore its ability to resolve trade disputes. The leaders' joint statement backed plans to pilot a Brics multilateral guarantees initiative within the group's New Development Bank to lower financing costs and boost investment in member states, as first reported by Reuters last week. In a separate statement after a discussion about artificial intelligence, the leaders called for protections against unauthorised use of AI to avoid excessive data collection and allow mechanisms for fair payment. Brazil, which also hosts the UN climate summit in November, has seized on the two gatherings to highlight how seriously developing nations are tackling climate change, while Trump has slammed the brakes on US climate initiatives. China and the UAE signaled in meetings with Brazilian finance minister Fernando Haddad in Rio that they plan to invest in a proposed tropical forests forever facility, according to two sources with knowledge of the discussions about funding conservation of endangered forests around the world.
