Latest news with #MauricioLyrio
Zawya
01-05-2025
- Business
- Zawya
Brics vs. Trump: Brics nations discuss shared response to Trump trade policies
Foreign ministers from the Brics group of developing nations met on Monday, 28 April 2025 to discuss a shared defence of the global trade system, coordinating their response to the barrage of new tariffs from US President Donald Trump. The meeting in Rio de Janeiro is expected to produce a joint statement criticising "unilateral measures" on trade from the group formed by Brazil, Russia, India, China and South Africa and recently expanded to include six more nations. "The ministers are negotiating a declaration to reaffirm the centrality of... multilateral trade negotiations as the main axis of action in trade," Brazilian Ambassador Mauricio Lyrio said. "They will reaffirm their criticism of unilateral measures of any origin, which has been a longstanding position of Brics countries." The expanded BRICS group, which added Egypt, Saudi Arabia, the United Arab Emirates, Ethiopia, Indonesia and Iran last year, faces daunting challenges from US trade actions. China, which was hit with 145% tariffs on its exports to the United States, has pushed for a harsher tone in the communique, but, according to a source familiar with negotiations, the final text will be critical but not confrontational. The Brics group as a whole has come under fire from Trump, who threatened another 100% in tariffs if the bloc moves ahead with a single currency to replace the dollar in trade relations. Brazil has already dropped the pursuit of a common currency in its Brics presidency, as reported in February, although its agenda may pave the way for less reliance on the US dollar in global trade. With an eye on the United Nations climate summit Brazil is hosting in November, the Brics ministers will also discuss a shared position on climate finance, a key priority for Brazil's presidency. Major developing nations, including China face growing pressure from wealthier nations to contribute to financing adaptation and mitigation initiatives in the poorest countries. "What is not on the agenda is the revision of which countries have to pay for the energy transition and the countries that can eventually, voluntarily, also finance it. This distinction is fundamental," said Lyrio. "The financial obligation to finance the fight against climate change and the energy transition in developing countries lies with rich countries," he added. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Business Recorder
28-04-2025
- Business
- Business Recorder
BRICS nations discuss shared response to Trump trade policies
RIO DE JANEIRO: Foreign ministers from the BRICS group of developing nations met on Monday to discuss a shared defense of the global trade system, coordinating their response to the barrage of new tariffs from US President Donald Trump. The meeting in Rio de Janeiro is expected to produce a joint statement criticizing 'unilateral measures' on trade from the group formed by Brazil, Russia, India, China and South Africa and recently expanded to include six more nations. 'The ministers are negotiating a declaration to reaffirm the centrality of... multilateral trade negotiations as the main axis of action in trade,' Brazilian Ambassador Mauricio Lyrio said. 'They will reaffirm their criticism of unilateral measures of any origin, which has been a longstanding position of BRICS countries.' The expanded BRICS group, which added Egypt, Saudi Arabia, the United Arab Emirates, Ethiopia, Indonesia and Iran last year, faces daunting challenges from US trade actions. China, which was hit with 145% tariffs on its exports to the United States, has pushed for a harsher tone in the communique but, according to a source familiar with negotiations, the final text will be critical but not confrontational. The BRICS group as a whole has come under fire from Trump, who threatened another 100% in tariffs if the bloc moves ahead with a single currency to replace the dollar in trade relations. Brazil has already dropped the pursuit of a common currency in its BRICS presidency, Reuters reported in February, although its agenda may pave the way for less reliance on the US dollar in global trade. With an eye on the United Nations climate summit Brazil is hosting in November, the BRICS ministers also will discuss a shared position on climate finance, a key priority for Brazil's presidency. Major developing nations including China face growing pressure from wealthier nations to contribute to financing adaptation and mitigation initiatives in the poorest countries. 'What is not on the agenda is the revision of which countries have to pay for the energy transition and the countries that can eventually, voluntarily, also finance it. This distinction is absolutely fundamental,' said Lyrio. 'The financial obligation to finance the fight against climate change and the energy transition in developing countries lies with rich countries,' he added.
Straits Times
28-04-2025
- Business
- Straits Times
Brics nations discuss shared response to Trump trade policies
RIO DE JANEIRO – Foreign ministers from the Brics group of developing nations met on April 28 to discuss a shared defence of the global trade system, coordinating their response to the barrage of new tariffs from US President Donald Trump. The meeting in Rio de Janeiro is expected to produce a joint statement criticising 'unilateral measures' on trade from the group formed by Brazil, Russia, India, China and South Africa and recently expanded to include six more nations. 'The ministers are negotiating a declaration to reaffirm the centrality of... multilateral trade negotiations as the main axis of action in trade,' Brazilian Ambassador Mauricio Lyrio said. 'They will reaffirm their criticism of unilateral measures of any origin, which has been a longstanding position of Brics countries.' The expanded Brics group, which added Egypt, Saudi Arabia, the United Arab Emirates, Ethiopia, Indonesia and Iran in 2024, faces daunting challenges from US trade actions. China, which was hit with 145 per cent tariffs on its exports to the United States, has pushed for a harsher tone in the communique but, according to a source familiar with negotiations, the final text will be critical but not confrontational. The Brics group as a whole has come under fire from Mr Trump, who threatened another 100 per cent in tariffs if the bloc moves ahead with a single currency to replace the dollar in trade relations. Brazil has already dropped the pursuit of a common currency in its Brics presidency, Reuters reported in February, although its agenda may pave the way for less reliance on the US dollar in global trade. With an eye on the United Nations climate summit Brazil is hosting in November, the Brics ministers also will discuss a shared position on climate finance, a key priority for Brazil's presidency. A Brics meeting of foreign ministers on April 28 in Rio de Janeiro. PHOTO: REUTERS Major developing nations including China face growing pressure from wealthier nations to contribute to financing adaptation and mitigation initiatives in the poorest countries. 'What is not on the agenda is the revision of which countries have to pay for the energy transition and the countries that can eventually, voluntarily, also finance it. This distinction is absolutely fundamental,' said Mr Lyrio. 'The financial obligation to finance the fight against climate change and the energy transition in developing countries lies with rich countries,' he added. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
France 24
28-04-2025
- Business
- France 24
BRICS ministers meet in Brazil over Trump trade policies
The meeting comes at a critical moment for the world economy after the International Monetary Fund this week slashed growth forecasts over the impact of the American leader's sweeping new tariffs. Foreign ministers from the ten-member trading bloc -- which includes current-chair Brazil, Russia, India, China and South Africa -- will hold two days of talks in Rio de Janeiro, as a precursor to a July leaders summit. Ahead of the gathering, Brazil's BRICS representative Mauricio Lyrio said diplomats were negotiating a joint declaration on "the centrality and importance of the multilateral trading system." The BRICS grouping has expanded significantly since its 2009 inception, and now includes Iran, Egypt, Indonesia, Ethiopia and the United Arab Emirates. It makes up nearly half of the global population and 39 percent of global GDP. Trump, since returning to the White House in January, 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. At a summit last year, BRICS members discussed boosting non-dollar transactions, eliciting a swift rebuke from Trump, who threatened them with 100 percent tariffs if they undercut the US currency. Brazilian Foreign Minister Mauro Vieira will host this week's meeting that will be attended by Russia's Sergei Lavrov and China's Wang Yi among others. Speaking to Brazil's O Globo newspaper, Lavrov said that BRICS nations planned to "increase the share of national currencies in transactions" between member states but said the talk of transitioning towards a unified BRICS currency was "premature." Russian ceasefire The group is also likely to discuss the war in Ukraine, as Trump seeks to push Moscow and Kyiv toward a peace agreement. Russian President Vladimir Putin caused surprise on Monday by announcing a three-day ceasefire from May 8-10. The White House suggested however that the pause was not satisfactory, saying that Trump had "made it clear he wants to see a permanent ceasefire first." Trump appeared to turn against Putin at the weekend after a meeting with Ukrainian President Volodymyr Zelensky at Pope Francis's funeral, saying he felt the Russian leader was "just tapping me along." At the same time he has been pressuring Kyiv to give up hopes of reclaiming Russian-annexed Crimea. Climate change is also expected to feature high on Brazil's agenda for the talks, which take place months before the major UN COP30 climate summit being hosted in the Amazon city of Belem. The BRICS will be joined for discussions on Tuesday by nine other "partner" countries, including several former Soviet states, as well as Cuba, Malaysia, Thailand, Uganda and Nigeria.
Reuters
28-04-2025
- Business
- Reuters
BRICS nations discuss shared response to Trump trade policies
RIO DE JANEIRO, April 27 (Reuters) - Foreign ministers from the BRICS group of developing nations met on Monday to discuss a shared defense of the global trade system, coordinating their response to the barrage of new tariffs from U.S. President Donald Trump. The meeting in Rio de Janeiro is expected to produce a joint statement criticizing "unilateral measures" on trade from the group formed by Brazil, Russia, India, China and South Africa and recently expanded to include six more nations. "The ministers are negotiating a declaration to reaffirm the centrality of... multilateral trade negotiations as the main axis of action in trade," Brazilian Ambassador Mauricio Lyrio said. "They will reaffirm their criticism of unilateral measures of any origin, which has been a longstanding position of BRICS countries." The expanded BRICS group, which added Egypt, Saudi Arabia, the United Arab Emirates, Ethiopia, Indonesia and Iran last year, faces daunting challenges from U.S. trade actions. China, which was hit with 145% tariffs on its exports to the United States, has pushed for a harsher tone in the communique but, according to a source familiar with negotiations, the final text will be critical but not confrontational. The BRICS group as a whole has come under fire from Trump, who threatened another 100% in tariffs if the bloc moves ahead with a single currency to replace the dollar in trade relations. Brazil has already dropped the pursuit of a common currency in its BRICS presidency, Reuters reported in February, although its agenda may pave the way for less reliance on the U.S. dollar in global trade. With an eye on the United Nations climate summit Brazil is hosting in November, the BRICS ministers also will discuss a shared position on climate finance, a key priority for Brazil's presidency. Major developing nations including China face growing pressure from wealthier nations to contribute to financing adaptation and mitigation initiatives in the poorest countries. "What is not on the agenda is the revision of which countries have to pay for the energy transition and the countries that can eventually, voluntarily, also finance it. This distinction is absolutely fundamental," said Lyrio. "The financial obligation to finance the fight against climate change and the energy transition in developing countries lies with rich countries," he added.
