BRICS Leaders Blast Tariff Blackmail as "Unjustified"

(MENAFN) Brazil’s President Luiz Inácio Lula da Silva condemned what he described as “unjustified and illegal tariff blackmail” in remarks made during a virtual summit with fellow leaders of the BRICS bloc on Monday. Lula's comments, delivered in the absence of direct reference to the United States, underscored growing frustration within the group over trade practices that he argued are being used to distort markets and interfere with domestic governance.

"Our countries have become victims of unjustified and illegal trade practices. Tariff blackmail is being normalized as a tool to conquer markets and interfere in domestic affairs," Lula stated, addressing the leaders of China, Egypt, Indonesia, Iran, Russia, and South Africa.

The 1.5-hour meeting, which Lula initiated, also included the participation of key diplomats such as Abu Dhabi Crown Prince Khaled bin Mohamed bin Zayed, Indian Foreign Minister Subrahmanyam Jaishankar, and Ethiopian Deputy Foreign Minister Hadera Abera, according to a statement issued by the Brazilian presidency.

Lula further emphasized the threat posed by extraterritorial sanctions, warning that they undermine national sovereignty. "The imposition of extraterritorial measures threatens our institutions,” he said, adding, “Secondary sanctions restrict our freedom to strengthen trade with friendly countries.”

Highlighting the economic significance of BRICS, Lula reminded his counterparts that the group represents 40% of global GDP, 26% of international trade, and nearly half of the world's population. "Trade and financial integration between our countries offer a safe option to mitigate the effects of protectionism," he added.

The Brazilian leader also asserted that the Global South could present an alternative development model, challenging the notion of a new Cold War emerging on the world stage.

Chinese President Xi Jinping denounced the increasing prevalence of hegemonism, unilateralism, and protectionism, describing these forces as significant threats to global economic stability. He warned that trade and tariff wars launched by certain nations are causing severe disruptions to the world economy and eroding international trade regulations.

Russian President Vladimir Putin attended the summit, but the Kremlin issued only a general statement about the talks, which focused on cooperation among BRICS members in areas such as trade, economics, finance, investment, and other sectors, while considering the current global economic situation.

At the summit, Iranian President Masoud Pezeshkian suggested forming a unified BRICS stance against Western sanctions. He argued that these measures not only undermine the national interests of independent countries but also obstruct global cooperation and hamper sustainable development. He emphasized that such sanctions pose a direct threat to their interests and make achieving sustainable growth unfeasible.

As the BRICS nations seek to assert their collective economic power, the ongoing tensions surrounding tariffs and sanctions appear to be a central issue of contention, with leaders calling for greater solidarity and alternative pathways to secure trade independence.

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