Brics Summit
The BRICS bloc of developing nations on Sunday condemned the increase of tariffs and attacks on Iran, but refrained from naming U.S. President Donald Trump. The group's declaration, which also took aim at Israel's military actions in the Middle East, also spared its member Russia from criticism and mentioned war-torn Ukraine just once.
The two-day summit was marked by the absences of two of its most powerful members. China’s President Xi Jinping did not attend a BRICS summit for the first time since he became his country’s leader in 2012. Russian President Vladimir Putin, who spoke via videoconference, continues to mostly avoid traveling abroad due to an international arrest warrant issued after Russia invaded Ukraine.
In an indirect swipe at the U.S., the group's declaration raised “serious concerns” about the rise of tariffs which it said were “inconsistent with WTO (World Trade Organization) rules.” The BRICS added that those restrictions “threaten to reduce global trade, disrupt global supply chains, and introduce uncertainty.”
Trump, in a post on his social media platform late Sunday, said any country that aligns itself with what he termed “the Anti-American policies of BRICS” would be levied an added 10% tariff.
Brazil's President Luiz Inácio Lula da Silva, who hosted the summit, criticized NATO's decision to hike military spending by 5% of GDP annually by 2035. That sentiment was later echoed in the group's declaration.
“It is always easier to invest in war than in peace,” Lula said at the opening of the summit, which is scheduled to continue on Monday.
While Lula advocated on Sunday for the reform of Western-led global institutions, Brazil aimed to avoid becoming the target of higher tariffs.
Trump has threatened to impose 100% tariffs against the bloc if they take any moves to undermine the dollar. Last year, at the summit hosted by Russia in Kazan, the Kremlin sought to develop alternatives to U.S.-dominated payment systems which would allow it to dodge Western sanctions imposed after Russia’s invasion of Ukraine in February 2022
Brazil decided to focus on less controversial issues in the summit, such as promoting trade relations between members and global health, after Trump returned to the White House, said Ana Garcia, a professor at the Rio de Janeiro Federal Rural University.
“Brazil wants the least amount of damage possible and to avoid drawing the attention of the Trump administration to prevent any type of risk to the Brazilian economy,” Garcia said.