BRICS Meeting in Rio Tackles Trade Tariffs, Climate Funding Amid Global Tensions

April 28, 2025
BRICS Meeting in Rio Tackles Trade Tariffs, Climate Funding Amid Global Tensions
  • During the upcoming summit, Lula's administration aims to prioritize issues such as poverty reduction, sustainable development, and economic cooperation.

  • As the BRICS nations, including Brazil, Russia, India, and China, prepare for a summit in July 2025, they aim to expand their influence and cooperation.

  • Since January 2025, President Trump has enacted a blanket 10% tariff on many countries, with China facing tariffs as high as 145%, and he has threatened further punitive measures against BRICS nations.

  • The Brazilian presidency of BRICS is focusing on addressing trade tariffs and climate change funding, with discussions taking place at the foreign ministers' meeting in Rio de Janeiro on April 28 and 29, 2025.

  • Key topics at the meeting include regional tensions and humanitarian crises in areas such as Ukraine, Haiti, and Gaza.

  • The meeting is particularly significant as the International Monetary Fund has recently downgraded its global growth forecasts due to the impact of U.S. tariffs.

  • China has been significantly impacted by U.S. tariffs and is advocating for a stronger stance in the BRICS communique, although the final statement is expected to be critical yet not confrontational.

  • The group's push for multilateralism includes calls for reforms in global governance institutions like the United Nations and the World Bank.

  • Brazil is advocating for strengthening the World Trade Organization to mediate global trade disputes, particularly in light of the ongoing inactivity of its Appellate Body since 2019.

  • Brazilian officials emphasize that the responsibility for financing climate change initiatives lies with wealthier nations, reaffirming that discussions will not involve reassessing these responsibilities.

  • The BRICS group is preparing a joint statement to advocate for multilateralism in response to the ongoing trade war initiated by the U.S. under President Trump.

  • Brazilian Foreign Minister Mauro Vieira, hosting the meeting, highlighted the need for dialogue amidst global crises, underscoring the increasing importance of BRICS.

Summary based on 13 sources


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Sources


Trump trade war dominates Brics meeting in Brazil

The Straits Times • Apr 29, 2025

Trump trade war dominates Brics meeting in Brazil

Brics nations discuss shared response to Trump trade policies


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