With forums such as the G7 and G20 groups of major economies
hamstrung by divisions and the disruptive "America First"
approach of the US president, BRICS is presenting itself as a haven for
multilateral diplomacy amid violent conflicts and trade wars.
In
opening remarks to the BRICS summit in Rio de Janeiro, Brazil's President Luiz
Inacio Lula da Silva drew a parallel with the Cold War's Non-Aligned Movement,
a group of developing nations that resisted joining either side of a polarized
global order. "BRICS is the heir to the Non-Aligned Movement," Lula
told leaders. "With multilateralism under attack, our autonomy is in check
once again."
In a joint statement released on Sunday afternoon, the group
warned the rise in tariffs threatened global trade, continuing its veiled
criticism of Trump's tariff policies.
Hours later, Trump warned he would punish countries seeking
to join with the grouping.
"Any
Country aligning themselves with the Anti-American policies of BRICS, will be
charged an additional 10% Tariff. There will be no exceptions to this policy.
Thank you for your attention to this matter!" Trump said in a post on
Truth Social.
Trump did not clarify or expand on the "Anti-American
policies" reference in his post.
Trump's administration is seeking to finalize dozens
of trade deals with a wide range of countries before his July 09 deadline for
the imposition of significant "retaliatory tariffs".
BRICS
nations now represent more than half the world's population and 40% of its
economic output, Lula noted in remarks on Saturday to business leaders, warning
of rising protectionism.
More than 30 nations have expressed interest in
participating in the BRICS, either as full members or partners.
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