Leaders from FIFA often face weights on the West and will soon meet in Rio de Janeiro, just as U.S. President Donald Trump threatened to reignite his trade war with a series of new unilateral tariffs.
The summit, held from July 6 to 7, will invite officials from the founding members of the organization (Brazil, Russia, India, China and South Africa) as well as its updated supplements – Egypt, Ethiopia, Saudi Arabia, UAE, Indonesia and Iran. Leaders from “Partner Country” are the new category created in January and are a stepping stone to becoming a formal membership. Vietnamese Prime Minister Pham Minh Chinh is Go to Brazil After Southeast Asian countries became the latest BRICS partners in June.
this Agenda Including discussions about vaccine cooperation, green energy transition and World Trade Organization reform (WTO), this is due to increased concerns over the rise in unilateral tariffs.
Protectionism has dominated recent headlines due to Trump’s “Liberation Day” tariffs. Trump said Thursday He can set unilateral tariffs On Friday, there were as many as twelve U.S. trading partners. He suggested that it will take effect on August 1, with the new tax likely to be as high as 70%.
The Trump administration’s pause on reciprocity tariffs will expire on July 9; without extensions, the tariffs will return to the level first proposed on April 2.
However, Trump’s tariffs violation The World Trade Organization’s favorite national clause requires members to treat each other equally in trade agreements. China has Initiate WTO dispute In April, new tariffs in the United States.
The WTO’s failure to enforce its own rules has led to a call for reform. Since 2019, the United States has blocked the appointment of the organization’s appeals body, believing it often exceeds the power of its ruling. BRICS countries pointed out Due to the lack of a “full-functional” dispute settlement mechanism, it serves as the driving force for reform.
Trade and tariffs will not be the only controversial issue at the summit. Continued Russian war in Ukraine and the recent Iran-Israel conflict could create a “risk distraction for effective summit outcomes”, Christopher Sabatini Written earlier This week.
Russian President Vladimir Putin will not attend in person due to an International Criminal Court arrest warrant. As a member of the ICC, Brazil is obliged to arrest Putin upon arrival.
Chinese President Xi Jinping will not attend the BRICS summit with Prime Minister Li Qiang Replace him.
In recent years, interest in the BRICS countries has increased, as countries explore different groups as hedges for the hedge of the current leading international system. Gold bar membership may also lead to better access to markets such as China.
However, the group has its own geopolitical differences, such as between India and China. Tensions within the BRICS countries have surfaced this year. In April, the organization’s foreign minister Not released Joint statement on the rise of trade protectionism.
However, observers sometimes see BRICS countries as potential threats to observers like the United States: Trump, who Threat 100% tariff Oppose the BRICS exploration to replace the common currency of the US dollar and they will deal with it.
