The member nations of BRICS have criticized the weaponization of trade barriers, violence in Gaza, and attacks on Iran in the Rio event.
However, none of the nations mentioned the US directly, which is widely viewed as a strategic move.
Speaking At the 17th Summit of the BRICS in Brazil’s Rio de Janeiro, the group issued a joint statement and mentioned that global supply chains are disrupted and economic recovery slows due to protectionist policies.
Experts view it as a reference to US policies on trade and tariffs and its multiple sanctions on China, Russia, and Iran.
BRICS Seeks Two-State Solution For Israel-Palestine Issue
Brazilian President Lula also slammed NATO’s decision to increase defense expenditure that forms almost 5% of member states’ GDP.
On Gaza, a statement by BRICS noted that a grave humanitarian crisis is unfolding in Gaza and sought an urgent ceasefire. The organization further added that all the civilians must be protected and humanitarian aid must be increased.
BRICS also called for a two-state solution to solve the Israel–Palestine crisis and reduce tensions in the Middle East.
However, the joint statement omitted the name of Israel from the Gaza conflict. On a similar line, an assault on various sites in Iran was also condemned, but no country was named directly as the aggressor.
America Warns Of Additional Trade Tariffs
In response, US President Donald Trump has threatened BRICS with an ultimatum that says: “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.”
Notably, India and Brazil share various key trade deals with the US.
Last year, BRICS floated the idea of introducing a joint currency to ease trade deals among the member nations.
However, Donald Trump, then a president-elect, threatened to impose 100 percent tariffs on the participating countries, as he believed the move would rival US dollars in global trade.
BRICS and partner nations represent almost 46 percent of the world’s population.
Recent data by the International Monetary Fund revealed that the combined GDP of BRICS members is $77 trillion, almost $20 trillion more than that of the G7.
