The Fort Worth Press - BRICS nations to denounce Trump tariffs

USD -
AED 3.672504
AFN 63.000368
ALL 82.776172
AMD 376.396497
ANG 1.790083
AOA 917.000367
ARS 1391.503978
AUD 1.422273
AWG 1.8025
AZN 1.70397
BAM 1.687271
BBD 2.010611
BDT 122.494932
BGN 1.709309
BHD 0.377087
BIF 2954.923867
BMD 1
BND 1.276711
BOB 6.898158
BRL 5.313404
BSD 0.998318
BTN 93.32787
BWP 13.612561
BYN 3.028771
BYR 19600
BZD 2.007764
CAD 1.37265
CDF 2275.000362
CHF 0.78844
CLF 0.023504
CLP 928.050396
CNY 6.886404
CNH 6.906095
COP 3669.412932
CRC 466.289954
CUC 1
CUP 26.5
CVE 95.125739
CZK 21.149204
DJF 177.768192
DKK 6.457504
DOP 59.25894
DZD 132.24804
EGP 51.758616
ERN 15
ETB 157.330889
EUR 0.862704
FJD 2.21445
FKP 0.749593
GBP 0.749681
GEL 2.71504
GGP 0.749593
GHS 10.882112
GIP 0.749593
GMD 73.503851
GNF 8750.377432
GTQ 7.646983
GYD 208.85994
HKD 7.83525
HNL 26.423673
HRK 6.511304
HTG 130.966657
HUF 339.680388
IDR 16956.2
ILS 3.109125
IMP 0.749593
INR 94.01055
IQD 1307.768624
IRR 1315625.000352
ISK 124.270386
JEP 0.749593
JMD 156.839063
JOD 0.70904
JPY 159.240385
KES 129.327524
KGS 87.447904
KHR 3989.129966
KMF 427.00035
KPW 900.029607
KRW 1505.310383
KWD 0.30657
KYD 0.831903
KZT 479.946513
LAK 21437.260061
LBP 89404.995039
LKR 311.417849
LRD 182.685589
LSL 16.84053
LTL 2.95274
LVL 0.60489
LYD 6.39089
MAD 9.328473
MDL 17.385153
MGA 4162.53289
MKD 53.176897
MMK 2098.81595
MNT 3568.179446
MOP 8.05806
MRU 39.961178
MUR 46.510378
MVR 15.460378
MWK 1731.096062
MXN 17.898204
MYR 3.939039
MZN 63.903729
NAD 16.84053
NGN 1356.250377
NIO 36.733814
NOK 9.569995
NPR 149.324936
NZD 1.712622
OMR 0.384504
PAB 0.998318
PEN 3.451408
PGK 4.309192
PHP 60.150375
PKR 278.721304
PLN 3.69475
PYG 6520.295044
QAR 3.65052
RON 4.401504
RSD 101.324246
RUB 82.822413
RWF 1452.529871
SAR 3.754657
SBD 8.05166
SCR 13.69771
SDG 601.000339
SEK 9.344038
SGD 1.282504
SHP 0.750259
SLE 24.575038
SLL 20969.510825
SOS 570.504249
SRD 37.487504
STD 20697.981008
STN 21.136177
SVC 8.734849
SYP 110.711277
SZL 16.845965
THB 32.908038
TJS 9.588492
TMT 3.51
TND 2.948367
TOP 2.40776
TRY 44.252504
TTD 6.773066
TWD 32.036704
TZS 2595.522581
UAH 43.73308
UGX 3773.454687
UYU 40.227753
UZS 12170.987361
VES 454.69063
VND 26312
VUV 118.849952
WST 2.727811
XAF 565.894837
XAG 0.01471
XAU 0.000222
XCD 2.70255
XCG 1.799163
XDR 0.703792
XOF 565.894837
XPF 102.885735
YER 238.603589
ZAR 17.12748
ZMK 9001.203584
ZMW 19.491869
ZWL 321.999592
  • RBGPF

    -13.5000

    69

    -19.57%

  • CMSC

    -0.2000

    22.65

    -0.88%

  • AZN

    -5.3300

    183.6

    -2.9%

  • RIO

    -2.5000

    83.15

    -3.01%

  • VOD

    -0.0900

    14.33

    -0.63%

  • BTI

    -1.3500

    57.37

    -2.35%

  • RELX

    -0.4600

    33.36

    -1.38%

  • NGG

    -3.5400

    81.99

    -4.32%

  • RYCEF

    -1.2600

    15.34

    -8.21%

  • CMSD

    -0.2420

    22.658

    -1.07%

  • BCC

    -1.5600

    68.3

    -2.28%

  • BCE

    0.0600

    25.79

    +0.23%

  • BP

    -1.0800

    44.78

    -2.41%

  • GSK

    -0.5300

    51.84

    -1.02%

  • JRI

    -0.3900

    11.77

    -3.31%

BRICS nations to denounce Trump tariffs
BRICS nations to denounce Trump tariffs / Photo: © 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.

S.Jordan--TFWP