BRICS leaders descended on sunny Rio de Janeiro Sunday, ready to issue a dark warning that US president Donald Trump鈥檚 鈥榠ndiscriminate鈥� import tariffs risked hurting the global economy.
The 11 emerging nations, including Brazil, Russia, India, China and South Africa, represent about half the world鈥檚 population and 40 per cent of global economic output.
The bloc is divided about much, but has found common cause when it comes to the mercurial US leader and his stop-start tariff wars.
The BRICS are set to voice 鈥榮erious concerns about the rise of unilateral tariff and non-tariff measures,鈥� warning they are illegal and arbitrary, according to a draft summit statement obtained by AFP.
In April, Trump threatened allies and rivals alike with a slew of punitive duties, but abruptly offered a reprieve in the face of a fierce market sell-off.
Trump and his treasury secretary, Scott Bessent, have warned they would again impose unilateral levies on partners unless they reach 鈥榙eals鈥� by August 1.
The BRICS will warn that such moves break world trade rules, 鈥榯hreaten to further reduce global trade鈥� and are 鈥榓ffecting the prospects for global economic development.鈥�
The draft summit declaration does not mention the United States or its president by name, but it is a clear political volley directed at the occupant of 1600 Pennsylvania Avenue.
The Peterson Institute听for International Economics, a Washington think tank, estimates Trump鈥檚 tariffs could trim about two points off US GDP and hit economies from Mexico to the oil-rich Arabian Gulf.
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 as the group has expanded to include Iran, Indonesia and others, it has struggled to reach meaningful consensus on issues ranging from the Gaza war to reforming international institutions.
The political punch of this year鈥檚 summit has been depleted by the absence of听China鈥檚 Xi Jinping, who is skipping the meeting for the first time in his 12 years as president.
The Chinese leader will not be the only notable absentee.听Russian president Vladimir Putin is also opting to stay away, but participated via video link.
He told counterparts that the influence of BRICS 鈥榗ontinues to grow鈥� and said the bloc had become a key player in global governance.
Still, Xi鈥檚 no-show is a blow to BRICS and to host Brazilian president Luiz Inacio Lula da Silva, who wants Brazil to play a bigger role on the world stage.
On Sunday he welcomed leaders to Rio鈥檚 stunning Guanabara Bay, telling them that multilateralism was under attack, while hitting out at NATO and Israel, among others.
He accused the trans-Atlantic defense organisation of fueling an international arms race through a pledge by members to spend five percent of GDP on defense.
鈥業t is always easier to invest in war than in peace,鈥� he said, while accusing Israel of carrying out a 鈥榞enocide鈥� in Gaza.
Iran鈥檚 president Masoud Pezeshkian, whose nation is still reeling from a 12-day conflict with Israel, is also skipping the meeting, but he was represented by foreign minister Abbas Araghchi.
A source familiar with summit negotiations said Iran had sought a tougher condemnation of Israel 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 鈥榮ame message鈥� that BRICS delivered last month.
Then Tehran鈥檚 allies expressed 鈥榞rave concern鈥� about strikes against Iran, but did not explicitly mention Israel or the United States.
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