Brics more relevant than ever, summit host Brazil says amid Trump’s tariff threats
Brazilian Foreign Minister Mauro Vieira has asserted that BRICS is "more relevant than ever," emphasizing the bloc's commitment to multilateralism amidst global trade system limitations, as Brazil prepares to host the BRICS summit in July. Vieira dismissed external pressures, including threats from the US, and highlighted the group's dedication to strengthening cooperation among emerging economies.
Vieira's remarks come in response to escalating threats from US President Donald Trump, who has warned of imposing steep tariffs on BRICS nations seeking to reduce dependence on the US dollar in trade. While Trump accused BRICS states of trying to undermine the dollar, Brazilian officials clarified that the group is exploring a system to consolidate trade transactions using local currencies, aiming to bypass US banks. Vieira countered that BRICS must resist the current trend of "deglobalisation" and advocate for an open, fair, and balanced multilateral trade system that serves the needs of the Global South.
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Brazilian Foreign Minister Mauro Vieira has asserted that BRICS is "more relevant than ever," emphasizing the bloc's commitment to multilateralism amidst global trade system limitations, as Brazil prepares to host the BRICS summit in July. Vieira dismissed external pressures, including threats from the US, and highlighted the group's dedication to strengthening cooperation among emerging economies.
Vieira's remarks come in response to escalating threats from US President Donald Trump, who has warned of imposing steep tariffs on BRICS nations seeking to reduce dependence on the US dollar in trade. While Trump accused BRICS states of trying to undermine the dollar, Brazilian officials clarified that the group is exploring a system to consolidate trade transactions using local currencies, aiming to bypass US banks. Vieira countered that BRICS must resist the current trend of "deglobalisation" and advocate for an open, fair, and balanced multilateral trade system that serves the needs of the Global South.
via SCMP Full Text Feed
