Managers from the BRICS block, which are often presented as a counterweight in the West, will soon meet in Rio de Janeiro, just like US President Donald Trump threatens to reinstall his trade war with a flood of newly one -sided tariffs.
At the summit, which takes place on July 6th and 7th, officials from the founding members of the group – Brazil, Russia, India, China and South Africa – and his newer additions – with Egypt, Ethiopia, Saudi Arabia, the United Arab Emirates, Indonesia and Iran. Managers from “partner countries”, a new category that was founded in January as a springboard for complete membership, will also take part. Vietnam’s Prime Minister Pham Minh Chinh is Travel to Brazil According to the Southeast Asian country, the latest BRICS partner was in June.
The agenda Includes discussions about the cooperation in the vaccine, the transition from Green Energy and the reform of the World Trade Organization (WTO), which is triggered by the increasing concerns about an increase in one -sided tariffs.
Commercial protectionism has dominated the recent headlines due to Trump’s “liberation day” tariffs. Trump said on Thursday He could set one -sided tariffs A dozen US trading partners so quickly on Friday. He suggested that the new taxes that could be up to 70%will come into force by August 1st.
The break of the Trump government on mutual tariffs is on July 9th. Without an extension, the tariffs climb back to the levels proposed on April 2.
But Trump’s tariffs injure The most employed clause of the world trade organization, in which the members in trade agreements must treat themselves equally. China already initiated a WTO dispute About the new tariffs of the United States in April.
The failure of the WTO to enforce its own rules has led to reforms. The United States has blocked appointments to the organization’s appeal authority since 2019 and argued that it regularly exceeds its authority with its decisions. Show Brics countries The lack of a “well -functioning” dispute settlement mechanism as a reform drive.
Trade and tariffs will not be the only controversial topic on the summit. Russia’s continued war in Ukraine and the latest Iran-Israeli conflict could “create dangerous distractions into an effective summit result”, Christopher Sabatini, Senior Research Fellow for America in Chatham House, previously written this week.
The Russian President Vladimir Putin will not be personally present due to an arrest warrant from the International Criminal Court. As an ICC member, Brazil would be obliged to arrest Putin on arrival.
The Chinese President Xi Jinping will not take part in the BRICS summit with Premier Li Qiang go to his place.
Interest in BRICS has grown in recent years because the federal states examine various groups as security against the currently managed international system of US systems. BRICS membership could also lead to better access to markets such as China.
However, the group has its own geopolitical divisions like between India and China. And tensions within Brics have already appeared this year. In April the Foreign Minister of the Group failed to issue A joint explanation of increasing trading protectionism.
Nevertheless, observers sometimes see the BRICS as a potential threat to the US such an observer: Trump has Threatened 100% tariffs Against BRICS countries if you ever explore a common currency to replace the US dollar.
