Senior diplomats from BRICS nations, along with representatives from Nigeria and other partner countries, are gathering this week in Brazil to present a united stance against mounting global economic pressures, particularly those stemming from U.S. President Donald Trump’s aggressive trade policies.
The two-day meeting, which kicked off Monday in Rio de Janeiro, comes at a critical time for the world economy. The International Monetary Fund (IMF) recently slashed its global growth forecasts, citing the widespread impact of the Trump administration’s sweeping tariffs.
As global markets remain jittery, BRICS diplomats aim to reinforce their commitment to a multilateral trading system that promotes stability and cooperation.
Mauricio Lyrio, Brazil’s BRICS representative, emphasized that the diplomats are working toward a declaration that “reaffirms the centrality and importance of the multilateral trading system.”
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The BRICS bloc—comprising Brazil, Russia, India, China, and South Africa—has grown significantly since its founding in 2009. It now includes new members like Iran, Egypt, and the United Arab Emirates, representing nearly half of the world’s population and about 39% of global GDP.
Tensions with the United States have been escalating. Since returning to the White House earlier this year, President Trump has implemented a blanket 10% tariff on goods from dozens of countries.
China, in particular, has faced additional tariffs of up to 145% on many of its exports, prompting Beijing to retaliate with duties as high as 125% on American products. Trump has also threatened to slap 100% tariffs on BRICS countries if they are seen as undermining the value of the U.S. dollar.
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Brazilian Foreign Minister Mauro Vieira is hosting the diplomatic gathering, with prominent figures such as Russia’s Foreign Minister Sergei Lavrov and China’s top diplomat Wang Yi in attendance. The initial closed-door discussions are expected to be followed by a joint statement outlining their collective position.
Beyond trade, the agenda is packed with other global concerns. Climate change is a key topic ahead of the United Nations COP30 climate summit, scheduled for November in Belem, Brazil, deep in the Amazon rainforest.
Delegates are also expected to address the ongoing war in Ukraine, particularly as Trump seeks to broker a peace deal between Russia and Ukraine.
On Tuesday, the BRICS bloc will expand discussions to include nine “partner” nations—among them Nigeria, Uganda, Malaysia, Thailand, Cuba, and several former Soviet states. This broader coalition aims to bolster emerging economies and enhance South-South cooperation in an increasingly polarized global environment.
As diplomatic talks unfold in Rio, the world watches closely to see how these powerful nations—and their allies—plan to navigate the challenges of an evolving and uncertain global economy.
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