Berliner Boersenzeitung - BRICS members blast rise of 'trade protectionism'

Chinese Foreign Minister Wang Yi and his Russian counterpart Sergei Lavrov were among the top diplomats of the 11-country grouping attending two days of talks on issues ranging from Trump's trade war to the push for peace in Ukraine.

Mauro Vieira, the foreign minister of Brazil which holds the rotating BRICS presidency, said the bloc underscored its "firm rejection" of protectionism, without explicitly referring to Trump.

The group also hit out at the use of "non-tariff" trade barriers, deployed under "environmental pretexts," in what some saw as a swipe by Brazil at EU regulations on some of its exports.

Since returning to the White House in January, Trump has hit dozens of countries with a blanket 10 percent tariff, but China faces levies of up to 145 percent on many products.

Beijing has responded with duties of 125 percent on US goods.

BRICS, which was founded by Brazil, Russia, India and China in 2009 and now also includes Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia, South Africa and the United Arab Emirates, has become a major counterweight to Western-led groups such as the G7.

It now makes up nearly half of the world's population, and 39 percent of global GDP.

The meeting in Rio came at a critical moment for the world economy after the International Monetary Fund slashed growth forecasts over the impact of Trump's sweeping new tariffs.

- 'Absolute consensus' -

The ministers did not issue a joint statement but Vieira said there was "absolute consensus" on the subject of "trade conflicts and tariffs."

Some BRICS members have, however, escaped the worst of Trump's trade ire.

Brazilian exports to the United States are subject to 10 percent tariffs, a fraction of those imposed on China.

Vieira touted increased "multilateralism and cooperation" as the panacea for various global challenges.

On Monday, the BRICS ministers called for a "complete withdrawal" of Israeli forces from Gaza, terming Israel's more than 50-day aid blockade of the territory "unacceptable."

They had less to say about the war in Ukraine, merely calling for a "diplomatic solution" which respects the "principles and objectives" of the United Nations charter.

BRICS leaders will hold a two-day summit in Rio on July 6-7.

(T.Renner--BBZ)