SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Dutch Central Bank Sale Announcement Imminent?

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: sea_urchin9/8/2025 7:10:39 PM
   of 81623
 
Brazilian President Luiz Inácio Lula da Silva has called on the BRICS nations to unite against the “tariff blackmail” of US President Donald Trump.

dailymaverick.co.za

Without mentioning Trump or the US by name, Lula told a virtual BRICS summit on Monday: “Our countries became victims of trade practices that are unjustified and illegal.

“The tariff blackmail has been normalised as a tool to conquer markets and to interfere in our domestic issues.

“The imposition of extraterritorial measures are threatening our institutions.”



Brazilian President Luiz Inacio Lula da Silva at the Planalto Palace in Brasilia, Brazil, 14 July 2025. (Photo: EPA/Andre Borges).

Lula, who called the meeting as the current chair of BRICS, was clearly speaking from the bitter experience of suffering 50% trade tariffs imposed on Brazil by Trump. And, as he said, Trump has clearly used the tariffs to interfere in Brazil’s internal affairs, trying to force Lula to drop charges against his predecessor, the right-wing Jair Bolsonaro, for allegedly plotting a coup to stay in power after losing to Lula in the 2022 presidential elections.

Tension is rising in Brazil, with duelling rallies for and against Bolsonaro, as the verdict in his trial looms.

Lula told the virtual BRICS summit that: “To divide, to conquer is the new unilateralism strategy. When the principle of sovereign equality of the states is not being followed, the intervention in domestic issues becomes a common practice.

“A peaceful solution for controversies is now being replaced by belligerent conduct without any support of international law.”

Lula noted that the World Trade Organization had been “in paralysis for years”.



President of Brazil Luiz Inácio Lula da Silva, President of China Xi Jinping, President of South Africa Cyril Ramaphosa, Prime Minister of India Narendra Modi and Russia Foreign Minister Sergei Lavrov during the 2023 BRICS Summit in Sandton, Johannesburg. (Photo: Gianluigi Guercia / EPA-EFE / Pool) | Graphic background: Vecteezy.


He noted that the BRICS nations together represented 40% of global GDP, 20% of international trade and almost 50% of the world population.

The BRICS countries – now with 10 members – “have the necessary legitimacy to lead the re-foundation of the trade multilateral system on a modern basis, flexible and that meets our needs for development”.

For that the BRICS nations would have to arrive united at the 14th Ministerial Conference of the WTO next year in Cameroon, Lula said.

Indian

Prime Minister Narendra Modi talks with Russian President Vladimir Putin and Chinese President Xi Jinping before the Shanghai Cooperation Organization Summit at the Meijiang Convention and Exhibition Centre in Tianjin, China, on 1 September 2025. (Photo: Kyodo News / Suo Takekuma).

Chinese President Xi Jinping agreed with Lula, saying trade wars and tariff wars waged by “some country” had severely disrupted the world economy and undermined international trade rules.

In this critical juncture, BRICS countries, standing at the forefront of the Global South, should act together to defend multilateralism and the multilateral trading system.

“Economic globalisation is an irresistible trend of history. Countries cannot thrive without an international environment of open cooperation.

“And no country can afford to retreat to self-imposed isolation. No matter how the international landscape may evolve, we must stay committed to building an open global economy.

“We should uphold the multilateral trading system with the World Trade Organization at its core and oppose all forms of protectionism.”



Chinese President Xi Jinping attends a reception at the Great Hall of the People in Beijing, China, 03 September 2025. China holds celebrations on 03 September to mark the 80th anniversary of the end of the Second Sino-Japanese War, known in China as the War of Resistance against Japanese Aggression, and the end of World War II. EPA/JESSICA LEE.

Xi said BRICS countries accounted for nearly half of the world’s population, around 30% of global economic output and one-fifth of global trade.

“We are also home to major natural resources, big manufacturers and vast markets.

“The more closely we work together, the more resilient, resourceful and effective we are in addressing external risks and challenges.”

President Ramaphosa took a positive view, declaring that “this global trading crisis provides a great opportunity for us to do things differently”.

“We need to pivot from crisis management to strategic action, from emergency fixes to collective growth and development.

“I strongly believe that when BRICS countries unite in solidarity to co-create solutions, we unlock tangible mutual benefits for BRICS members and the broader Global South.”



President Cyril Ramaphosa on August 15, 2025 in Pretoria. (Photo: Gallo Images / Lefty Shivambu).

He called for a BRICS Economic Partnership Strategy which would address the imbalanced structure of BRICS trade.

It would also send a clear message to the world that all BRICS members were committed to mutually beneficial trade that addresses the needs and interests of all its members.

Ramaphosa seemed to be addressing protectionism within BRICS itself as well as protectionism from without, as he said: “A commitment on the part of all of us to sustainably address our various non-tariff barriers would position BRICS as a stable and predictable mutually beneficial trading partner amidst the current global disruptions.”



President Cyril Ramaphosa greets President Masoud Pezeshkian of the Islamic Republic of Iran on the sidelines of the 16th BRICS Summit in March in Kazan, Russian Federation. (Photo: GovernmentZA / X).

Iranian President Masoud Pezeshkian proposed the creation of a joint mechanism to counter unilateral Western sanctions and their impact.

Pezeshkian told the summit the world must move away from using tools such as economic sanctions to restore confidence in a just, multipolar system, adding that BRICS and the Shanghai Cooperation Organization could play a key role in this effort.DM
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext