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4w ago

BRICS Finalizes Joint Stance on Trade and Climate at Rio Meeting

Foreign ministers from the ten-member bloc coordinated responses to U.S. trade tariffs, reaffirmed support for multilateral trade, and called for climate finance from wealthy nations.

Brazilian Foreign Minister Mauro Vieira and Iranian Deputy Foreign Minister on Economic Diplomacy, Seyed Rasoul Mohajer shake hands, on the day of the BRICS Meeting of Ministers of Foreign Affairs in Rio de Janeiro, Brazil, April 28, 2025. REUTERS/Pilar Olivares
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Brazilian Foreign Minister Mauro Vieira and Chinese Foreign Minister Wang Yi shake hands, on the day of the BRICS Meeting of Ministers of Foreign Affairs in Rio de Janeiro, Brazil, April 28, 2025. REUTERS/Pilar Olivares
The foreign ministers of Brazil, China and Russia are among top diplomats attending talks among members of the BRICS grouping in Brazil

Overview

  • BRICS foreign ministers met in Rio de Janeiro to finalize a joint declaration emphasizing the importance of multilateral trade and opposing unilateral trade measures.
  • The bloc criticized U.S. President Donald Trump's tariffs, including 145% levies on Chinese exports, but opted for a non-confrontational tone in their communiqué.
  • BRICS ministers confirmed they would not pursue a unified currency but agreed to increase the use of national currencies in transactions among member states.
  • With Brazil hosting the COP30 climate summit in November, the group called for developed nations to bear primary financial responsibility for climate adaptation in developing countries.
  • The expanded BRICS alliance now includes ten nations, representing nearly half the global population and over a quarter of global GDP.