The President of Brazil Plans to Discuss Tariffs with BRICS Leaders

• Lula da Silva plans to discuss tariffs with the leaders of BRICS.
• Brazil is considering the possibility of submitting a joint complaint to the WTO.
• Currently, Brazil does not plan to respond with equivalent tariffs on US goods.

This is reported by RBC Ukraine, Global Times.

The President of Brazil, Luiz Inácio Lula da Silva, plans to meet with the leaders of BRICS to discuss a joint reaction to US tariffs. In an interview, he noted that currently there is no coordinated action among BRICS countries, but this issue requires resolution.

Lula clarified that he will first connect with the leaders of India and China, and then with other bloc members. He also considers the possibility of submitting a joint complaint to the World Trade Organization (WTO) along with other countries.

What is BRICS?

BRICS is an international organization consisting of the largest developing countries. The bloc was created in 2006 at the initiative of Russia and includes Brazil, Russia, India, China, and South Africa. As of January 1, 2024, Iran, Egypt, Ethiopia, and the United Arab Emirates will join BRICS, increasing the number of members to nine.

Countries that are seeking to join BRICS usually look for access to financing for development, increased trade, and investment opportunities.

BRICS vs. the USA

Lula da Silva does not intend to hold negotiations with US President Donald Trump regarding 50% import tariffs on Brazilian goods, which will take effect on September 6, 2025. He believes that such negotiations will be "unproductive." Brazil has submitted a request for consultations to the WTO regarding these tariffs, considering them a violation of US obligations.

The Brazilian government estimates that nearly 35.9% of the goods exported to the USA are subject to these tariffs, which would account for approximately 4% of Brazil's total exports.

Tags: Politics/Economy