The Japan Times - BRICS nations to denounce Trump tariffs

EUR -
AED 4.300214
AFN 72.597184
ALL 95.550065
AMD 431.637839
ANG 2.096491
AOA 1074.907628
ARS 1629.918298
AUD 1.612742
AWG 2.109126
AZN 1.99189
BAM 1.955146
BBD 2.358351
BDT 143.731916
BGN 1.955348
BHD 0.44173
BIF 3484.082224
BMD 1.170923
BND 1.490089
BOB 8.091535
BRL 5.870425
BSD 1.170928
BTN 112.003574
BWP 15.774194
BYN 3.262781
BYR 22950.09632
BZD 2.354993
CAD 1.60492
CDF 2624.039488
CHF 0.915469
CLF 0.026393
CLP 1038.74981
CNY 7.951682
CNH 7.943268
COP 4441.042695
CRC 533.030785
CUC 1.170923
CUP 31.029467
CVE 110.59423
CZK 24.324291
DJF 208.096742
DKK 7.471679
DOP 69.376586
DZD 155.049792
EGP 61.966667
ERN 17.563849
ETB 184.274054
FJD 2.558877
FKP 0.865557
GBP 0.866003
GEL 3.138391
GGP 0.865557
GHS 13.22866
GIP 0.865557
GMD 85.47764
GNF 10277.774521
GTQ 8.933012
GYD 244.974323
HKD 9.170455
HNL 31.158511
HRK 7.527872
HTG 152.924065
HUF 358.279526
IDR 20518.90831
ILS 3.401292
IMP 0.865557
INR 112.293123
IQD 1533.909499
IRR 1537422.268797
ISK 143.59035
JEP 0.865557
JMD 185.182514
JOD 0.830165
JPY 184.869469
KES 151.342104
KGS 102.396924
KHR 4696.573541
KMF 492.958538
KPW 1053.850627
KRW 1746.830185
KWD 0.361078
KYD 0.975803
KZT 549.571454
LAK 25701.766259
LBP 105091.319448
LKR 380.01936
LRD 214.45466
LSL 19.215559
LTL 3.457432
LVL 0.70828
LYD 7.406137
MAD 10.741758
MDL 20.081882
MGA 4888.604405
MKD 61.625963
MMK 2458.100405
MNT 4191.523978
MOP 9.445422
MRU 46.836558
MUR 54.915793
MVR 18.043889
MWK 2039.101101
MXN 20.10583
MYR 4.600587
MZN 74.820773
NAD 19.215251
NGN 1604.752859
NIO 42.978783
NOK 10.730693
NPR 179.212403
NZD 1.972092
OMR 0.450217
PAB 1.170948
PEN 4.01451
PGK 5.105167
PHP 72.113064
PKR 326.220283
PLN 4.246318
PYG 7160.604505
QAR 4.26626
RON 5.204876
RSD 117.409299
RUB 86.852884
RWF 1709.547991
SAR 4.400414
SBD 9.405158
SCR 17.375484
SDG 703.141388
SEK 10.912829
SGD 1.490521
SHP 0.874212
SLE 28.806891
SLL 24553.678219
SOS 669.252372
SRD 43.551288
STD 24235.747845
STN 24.88212
SVC 10.245572
SYP 129.479481
SZL 19.30271
THB 37.890742
TJS 10.965713
TMT 4.109941
TND 3.372844
TOP 2.819302
TRY 53.198997
TTD 7.944478
TWD 36.901627
TZS 3048.974879
UAH 51.490435
UGX 4390.606169
USD 1.170923
UYU 46.515233
UZS 14142.410812
VES 594.904751
VND 30854.413933
VUV 138.14421
WST 3.164699
XAF 655.754426
XAG 0.01342
XAU 0.00025
XCD 3.164478
XCG 2.110276
XDR 0.813756
XOF 653.960059
XPF 119.331742
YER 279.411601
ZAR 19.23033
ZMK 10539.723885
ZMW 22.101267
ZWL 377.036819
  • RBGPF

    -0.2100

    60.79

    -0.35%

  • BCC

    -0.9500

    66.98

    -1.42%

  • JRI

    -0.0100

    13.13

    -0.08%

  • CMSD

    -0.0400

    23.56

    -0.17%

  • BCE

    -0.0800

    24.39

    -0.33%

  • CMSC

    -0.0600

    23.05

    -0.26%

  • NGG

    -0.2600

    86.98

    -0.3%

  • RELX

    -1.1500

    31.62

    -3.64%

  • GSK

    0.0900

    50.99

    +0.18%

  • RIO

    2.5400

    112.04

    +2.27%

  • BTI

    1.7100

    65.35

    +2.62%

  • BP

    -0.2600

    44.14

    -0.59%

  • RYCEF

    -0.1700

    16.03

    -1.06%

  • VOD

    0.4150

    15.51

    +2.68%

  • AZN

    3.1800

    187.72

    +1.69%

BRICS nations to denounce Trump tariffs

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.

K.Tanaka--JT