The BRICS bloc will meet to discuss a joint response to US President Donald Trump’s tariff threats, according to Brazilian President Luiz Inacio Lula da Silva. “What President Trump is doing is tacit — he wants to dismantle multilateralism, where agreements are made collectively within institutions, and replace it with unilateralism, where he negotiates one-on-one with other countries,” Lula tells Reuters.
Lula says he will initiate a conversation at the BRICS group of developing nations about how to handle Trump and the latest US tariffs. He added that he will call Indian Prime Minister Narendra Modi on Thursday, and China’s Xi Jinping and other leaders after. “I’m going to try to discuss with them about how each one is doing in this situation, what the implications are for each country, so we can make a decision.”
Where BRICS Tariffs Currently Stand
US-Brazil tariffs currently sit at 50%, while India was hit today with an additional 25% tariff by Trump to raise those to 50%. China-US Tariffs are currently on pause, while tariffs on Russia sit above 30%. Trump labels the BRICS “anti-American” and threatened the Bloc with additional 10% tariffs last month. Some members of the bloc have discussed trade deals with the US, including India and China, to limit the tariffs. However, a unified BRICS effort against the US and its tariff threats may be its sole way to limit the damage.
Also Read: BRICS: India Hit With Additional 25% Tariff Taking Effect Aug. 27.
In addition, Lula stressed that Brazil now holds the presidency of the BRICS. In his interview, he added that he wants to discuss with allies why Trump is attacking multilateralism and what his goals may be. He did not allude to any future direct talks between Trump and the BRICS members unified.
In the past several days, Trump has unleashed a flurry of deals and trade moves leading up to his self-imposed deadline. These include tariffs on Canada of 35%, 50% tariffs on Brazilian goods, and a settled 15% tariff on EU goods. The tariffs all come with Trump’s tariff deadline approaching toward the end of this week.