At the BRICS summit in Rio de Janeiro, leaders from Brazil, Russia, India, China, and South Africa dismissed U.S. President Donald Trump’s accusations of being “anti-American” and threats to impose new tariffs. Trump had warned of a potential 10% tariff on BRICS nations and previously threatened 100% tariffs if the bloc undermined the U.S. dollar in global trade.
Brazil’s President Luiz Inácio Lula da Silva responded sharply, saying, “The world doesn’t need an emperor,” and defended the BRICS’ vision of reshaping global economic order. While Brazil recently backed away from promoting a common BRICS currency, Lula reiterated the need to reduce dependence on the U.S. dollar, calling for gradual reforms in global trade settlement mechanisms.
Other BRICS members offered more measured responses. South African President Cyril Ramaphosa stressed cooperation over confrontation and remained hopeful about reaching a trade deal with the U.S. China’s foreign ministry emphasized “win-win” diplomacy, rejecting coercive tariff use. Russia called BRICS collaboration a “common world view” not aimed at any specific country.
India has yet to officially respond, while new member Indonesia’s economic minister is headed to the U.S. for direct tariff discussions. Malaysia, present as a partner country, reaffirmed its commitment to independent economic policies despite suspended 24% tariffs.
The summit’s joint statement condemned the bombing of member nation Iran and warned that rising tariffs threaten global trade stability. As G7 and G20 struggles continue amid global tensions, BRICS promotes itself as a stable platform for multilateral diplomacy.
With Saudi Arabia and over 30 other nations showing interest in joining, BRICS is expanding its influence, challenging traditional power structures and pushing for a more balanced global economic system.


Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets
Trump Administration Halts Immigration, Green Card, and Citizenship Processing for 19 Countries
Honduras Election Turmoil Intensifies as Nasralla Blames Trump for Shift in Results
Israel Receives Body of Deceased Hostage as Rafah Crossing Reopening Hinges on Final Returns
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth
California Launches Portal for Reporting Alleged Misconduct by Federal Immigration Agents
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease
Trump Claims He Will Void Biden Documents Signed with Autopen
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity
U.S. Expected to Expand Travel Ban to More Than 30 Countries
European Stocks Rise as Markets Await Key U.S. Inflation Data
Drones Spotted Near Zelenskiy’s Flight Path in Ireland Trigger Security Alert
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 



