The unilateral tariff regime enacted by the Trump Administration against other countries is prompting efforts to oppose these measures. Brazil’s President Luiz Inácio Lula da Silva is organizing an online BRICS meeting to discuss the issue of these tariffs and rally the bloc’s leaders around multilateralism, according to Reuters’ sources.
The meeting would be slated to happen next Monday.
Brazil is one of the countries most affected by these measures, facing 50% tariffs on most of its U.S. exports, excluding key products such as orange juice and airplanes. Nonetheless, this measure is expected to hit Brazilian producers hard, and the Brazilian government has already taken steps to mitigate the impact of the tariff hike.
China has also been in trade negotiations with the U.S. for months, successfully avoiding the enactment of an additional 25% levy on its products. In contrast, India was hit with 50% tariffs on its goods, as Trump alleged that the country’s purchases of Russian oil funded Putin’s war efforts in Ukraine.
Lula could be taking advantage of the fallout between Trump and Modi, who have been close allies, to produce a joint statement positioning the BRICS group directly against the enactment of these tariffs.
The BRICS bloc, as a whole, has also been targeted by Trump before. In February, Trump stated that previous warnings of enacting 150% tariffs on countries adopting anti-dollar policies had fractured the bloc.
In July, Trump’s tariffs were part of a new threat to BRICS and BRICS-aligned countries. “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,” he stated at that time.
Read more: Trump Threatens Tariffs on BRICS Allies Amid Push for Alternative System
Read more: Trump Hits India With 50% Retaliatory Tariffs, Lula Vows to Mobilize BRICS to Fight Back
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