RIO DE JANEIRO (Bloomberg): BRICS officials kept their collective heads down on Monday morning as they awoke to an overnight threat by US President Donald Trump to penalize them for adopting policies he said were "anti-American.”
Members of the ten-nation grouping of emerging-market economies were reluctant to engage with Trump’s warning of additional 10% tariffs as they left their hotels in Rio de Janeiro for the concluding day of the BRICS summit hosted by President Luiz Inacio Lula da Silva.
The Brazilian leader declined to comment to reporters, saying he would speak only after the summit. His top foreign-policy adviser, Celso Amorim, avoided escalation in his response.
"The threats only show the need for an organization like the BRICS, which has the capacity to react, to meet and reach conclusions,” he said in an interview, noting that BRICS "didn’t threaten the US with anything.”
Several officials from different nations said that it’s not possible to second-guess what Trump will do, since his social-media post may be a specific threat or more rhetoric. Wait and see is the only option for the group’s approach, they said.
One official noted that Trump is unpredictable and that he might just forget he made the threat. South Africa’s president is ducking out early - he has a domestic crisis to attend to and the state visit with Lula was always more aspirational than plausible - but it sends the message that few want to follow through and provoke the US further at this delicate stage in talks.
‘Serious Concerns’
BRICS leaders representing 49% of the world’s population and 39% of global GDP agreed on a joint statement that took positions at odds with the Trump administration on matters of war and peace, trade and global governance.
While expressing "serious concerns” over tariffs, blasting soaring defense spending, and condemning airstrikes on BRICS member Iran, the group notably declined to call out the US by name.
Trump responded with his threat to slap an additional 10% levy on any country aligning themselves with "the Anti-American policies of BRICS.” Currencies from developing nations and stocks dropped early Monday.
Brazil’s president, known universally as Lula, is due to host the 10 BRICS members on Monday, plus a representative of Saudi Arabia, which continues to prevaricate over its full participation in the bloc, as well as a further 10 "partner nations,” including Malaysia, Nigeria and Vietnam.
The Saudi foreign minister didn’t reply to questions when approached for comment.
Amorim said that "everyone is anchoring themselves in the BRICS in the name of multilateralism.”
Malaysia’s Ministry of Investment, Trade and Industry said in a statement that it maintains an independent foreign and economic policy.
"Our engagement with any multilateral platform is focused on trade facilitation and sustainable development, guided by national interest, not ideological alignment,” the ministry said, adding that "the US remains one of Malaysia’s key economic partners.”
-- With assistance from Martha Beck, Netty Ismail and Andre Loureiro Dias.
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