{"id":33265,"date":"2025-07-07T21:52:55","date_gmt":"2025-07-07T21:52:55","guid":{"rendered":"https:\/\/financialrush.com\/?p=33265"},"modified":"2025-07-07T21:52:55","modified_gmt":"2025-07-07T21:52:55","slug":"brics-nations-hit-back-at-emperor-donald-trump-over-tariff-threats","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=33265","title":{"rendered":"Brics nations hit back at \u2018emperor\u2019 Donald Trump over tariff threats"},"content":{"rendered":"<p> \n<\/p>\n<div>\n<p>Unlock the White House Watch newsletter for free<\/p>\n<p class=\"article__content-sign-up-topic-description o3-type-body-base\">Your guide to what Trump\u2019s second term means for Washington, business and the world<\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=20cd337b-4a33-4a5d-ac70-55cca3f102f9&amp;newsletter-id=65b8fec772badb00166eafc6\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>Leaders at the Brics summit of developing nations have lashed out at US President Donald Trump\u2019s latest threat of an extra tariff on nations aligning with the bloc while vowing to double down on efforts to move away from the US dollar.<\/p>\n<p>The 11-nation group, which includes China, Russia and Iran, had already criticised Washington\u2019s unilateral tariffs and attacks on Iran in a final statement from its Rio de Janeiro meeting, without mentioning the US by name. However, a social media post by Trump on Sunday night <a href=\"https:\/\/www.ft.com\/content\/93398b2a-fd6e-4389-b85b-74a709726738\" data-trackable=\"link\">threatening a 10 per cent extra tariff <\/a>on pro-Brics countries raised tempers.<\/p>\n<p>Host President Luiz In\u00e1cio Lula da Silva of <a href=\"https:\/\/www.ft.com\/brazil\" data-trackable=\"link\">Brazil<\/a> said it was \u201cvery mistaken and very irresponsible\u201d of Trump to \u201cthreaten other [countries] on social media\u201d.<\/p>\n<p>\u201cThe world has changed. We don\u2019t want an emperor. We are sovereign countries,\u201d he told a news conference on Monday.<\/p>\n<p>The leftwinger added that there was \u201cno going back\u201d on reducing dependence on the US currency \u2014 another <a href=\"https:\/\/www.ft.com\/brics\" data-trackable=\"link\">Brics<\/a> ambition \u2014 and that it would happen step by step \u201cuntil it is consolidated\u201d.<\/p>\n<p>\u201cThe world needs to find a way so that our trade relationship does not need to go through the dollar,\u201d Lula told reporters. \u201cNobody has determined that the dollar is the currency standard.\u201d <\/p>\n<p>He did not give details, but the central banks of Brics countries have been <a href=\"https:\/\/www.ft.com\/content\/18b3d51d-1e4b-4189-bae2-c31248b6526b\" data-trackable=\"link\">running a project<\/a> to examine different possible international payment systems.<\/p>\n<p>South Africa\u2019s President Cyril Ramaphosa turned on those \u201cseeking to have vengeance against those doing good in the world\u201d. <\/p>\n<p>\u201cIt is really disappointing that, when there is such a very positive collective manifestation, such as Brics, there should be others who see it in a negative light and want to punish those who participate,\u201d he told the public broadcaster SABC.\u00a0<\/p>\n<p>Russia\u2019s foreign minister Sergei Lavrov, standing in for President Vladimir Putin, told reporters that Trump\u2019s tariff threat showed that the globalisation model once promoted by Washington no longer worked. He added that the US had \u201cflagrantly abused\u201d the dollar\u2019s position in the global financial system.<\/p>\n<p>Western nations have questioned the relevance and coherence of the Brics, which brings together autocracies such as China and Russia with democracies such as Brazil and India. However, the long list of developing nations attending the Rio summit as associate members or observers testified to its growing clout in the global south.<\/p>\n<p>\u201cThe Brics countries are playing an increasingly important role,\u201d Bolivia\u2019s hard-left President Luis Arce told the Russian broadcaster RT on the sidelines of the summit. \u201cThere is a clear struggle between the old stagnant bloc of the US and Europe on one side and the emerging bloc of Brics countries on the other.\u201d\u00a0<\/p>\n<figure class=\"n-content-image n-content-image--full\" data-component=\"image-set\"><picture><source media=\"(min-width: 700px)\" srcset=\"https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/ftcms%3Abb7924ff-2bfe-429d-aa98-bd424a7f7195?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=700&amp;dpr=1 1x,https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/ftcms%3Abb7924ff-2bfe-429d-aa98-bd424a7f7195?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=700&amp;dpr=2 2x,https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/ftcms%3Abb7924ff-2bfe-429d-aa98-bd424a7f7195?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=700&amp;dpr=3 3x\" width=\"2289\" height=\"1526\"\/><\/picture><figcaption class=\"n-content-picture__caption o3-editorial-typography-caption\"><span>Front from left: Cyril Ramaphosa of South Africa, Luiz In\u00e1cio Lula da Silva of Brazil, India\u2019s Narendra Modi, Li Qiang of China and Sergei Lavrov of Russia join hands for the group photograph at the Brics summit <\/span><span> <!-- -->\u00a9 Bloomberg<\/span><\/figcaption><\/figure>\n<p>While Brics nations disagree on some important issues, they are united on the need to reform global governance. The leaders\u2019 statement called for a comprehensive overhaul of the UN, the IMF and World Bank, so that they might reflect the realities of the 21st century rather than the postwar era.<\/p>\n<p>Russia and Iran both scored diplomatic victories, with Moscow securing wording from the leaders condemning \u201cin the strongest terms the attacks against bridges and railway infrastructure deliberately targeting civilians\u201d in Russia over the past weeks by Ukraine. No mention was made of Russian attacks on Ukraine.\u00a0<\/p>\n<aside aria-labelledby=\"aside-label\" class=\"n-content-recommended--single-story n-content-recommended--inset\" data-component=\"recommended\">\n<p class=\"n-content-recommended__title o3-type-body-highlight\">Recommended<\/p>\n<div class=\"o-teaser o-teaser--article o-teaser--small o-teaser--stacked o-teaser--has-image js-teaser\" data-id=\"8b83d73a-de7e-46df-8ca0-932808adfe61\">\n<div class=\"o-teaser__image-container js-teaser-image-container\"><a href=\"https:\/\/www.ft.com\/content\/8b83d73a-de7e-46df-8ca0-932808adfe61\" data-trackable=\"image-link\" data-trackable-context-story-link=\"image-link\" tabindex=\"-1\" aria-hidden=\"true\"><\/p>\n<div class=\"o-teaser__image-placeholder\" style=\"aspect-ratio:2290\/1288\"><img decoding=\"async\" class=\"o-teaser__image\" src=\"https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/https%3A%2F%2Fwww.ft.com%2F__origami%2Fservice%2Fimage%2Fv2%2Fimages%2Fraw%2Fhttps%253A%252F%252Fd1e00ek4ebabms.cloudfront.net%252Fproduction%252F1a9fc4a6-21d4-46db-a520-fcf52367edfb.jpg%3Fsource%3Dnext-article%26fit%3Dscale-down%26quality%3Dhighest%26width%3D700%26dpr%3D1?source=next&amp;fit=scale-down&amp;dpr=2&amp;width=240\" alt=\"Brics signage\"\/><\/div>\n<p><\/a><\/div>\n<\/div>\n<\/aside>\n<p>Iran, which joined the Brics last year, extracted condemnation from the bloc of the military strikes it had endured and \u201cserious concern\u201d over \u201cdeliberate attacks on peaceful nuclear facilities\u201d, though the statement did not mention the US or Israel by name.<\/p>\n<p>Marcos Troyjo, a former head of the Brics development bank and a critic of the group\u2019s direction, said the bloc was \u201cbecoming lost to third world-ism\u201d. He said it had lost its original purpose as an elite group of emerging market titans when it was founded by Brazil, Russia, India and China.<\/p>\n<p>Referring to the bloc\u2019s 31-page final statement covering everything from outer space to cultural imperialism and artificial intelligence, he joked: \u201cIt\u2019s become like the Olympics. Every sport has to be represented.\u201d<\/p>\n<\/div>\n\n<br \/><a href=\"https:\/\/www.ft.com\/content\/20cd337b-4a33-4a5d-ac70-55cca3f102f9\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Unlock the White House Watch newsletter for free Your guide to what Trump\u2019s second term means for Washington,&hellip;\n","protected":false},"author":6,"featured_media":33266,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":["post-33265","post","type-post","status-publish","format-standard","has-post-thumbnail","category-us","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/33265","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33265"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/33265\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/33266"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}