BRICS meets in Rio as Xi, Putin skip, Trump tariffs loom

The BRICS countries will hold their annual summit on Sunday and Monday in Rio de Janeiro, in a meeting overshadowed by the absence of Chinese President Xi Jinping and Russian leader Vladimir Putin, and by mounting pressure from US President Donald Trump.

A key topic on the agenda for the group of 11 emerging nations, founded by Brazil, Russia, India, China, and South Africa, is the push for greater use of local currencies in global trade as an alternative to the US dollar. Just days before Trump's July 9 deadline to impose sweeping global tariffs, BRICS leaders are expected to voice strong support for multilateralism and condemn protectionist measures. Trump has warned he could impose additional 100 percent tariffs if emerging countries take steps that challenge the dollar's dominance in international trade. Conflicts dominate the agenda The Middle East conflict will inevitably feature in discussions, especially given Iran's membership since 2024. Iran, which came under Israeli and US bombardment in June, is pushing for the summit's final declaration to explicitly condemn both countries.

However, the forum is expected to avoid adopting a strongly worded consensus, Leonardo Paz, a researcher at the Getulio Vargas Foundation (FGV), told EFE. Two weeks ago, BRICS issued a delayed, moderately toned statement on the bombings that avoided directly naming Israel or the US. The war in Ukraine will also return to the table, as Trump continues to struggle in his efforts to broker a ceasefire with Putin amid escalating attacks on both sides. Putin will address the summit via videoconference, as he faces an International Criminal Court arrest warrant over alleged war crimes in Ukraine and therefore cannot travel to Brazil.