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Nairametrics
Home Business News

BRICS nations unite to counter trade war fallout and strengthen global influence 

Israel Ojoko by Israel Ojoko
April 28, 2025
in Business News
Foreign capital from BRICS countries into Nigeria drops by 59.84% in Q3 2023
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The BRICS group is striving to transform itself into a global forum capable of addressing the economic and political disruptions caused by Donald Trump’s trade war.

BRICS is an acronym for Brazil, Russia, India, China, and South Africa.

The bloc, which has recently expanded to include Egypt, Ethiopia, Indonesia, Iran, the United Arab Emirates, and has Nigeria as one of its partner nations, now represents half of the world’s population and accounts for approximately 40% of global GDP.

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Nigeria’s inclusion as a partner country in January 2025 aligns with the bloc’s shared interests in advocating for international organization reforms and strengthening ties among developing nations.

Strengthening Cooperation Among Emerging Economies

Foreign ministers from BRICS are meeting in Rio de Janeiro from Monday for the first time since Trump’s policies disrupted the global economy and undermined traditional multilateral institutions like the Group of 20 (G-20).

The gathering aims to address the tariff upheaval and explore ways to bolster cooperation among Global South nations.

The expansion of BRICS has positioned the group to seize the global influence its founding members have long sought, particularly in the wake of geopolitical tensions and economic uncertainty.

China’s Pushback Against U.S. Tariffs

During the two-day meeting, BRICS foreign ministers will focus on reacting to Trump’s tariffs, which have imposed 145% levies on most Chinese exports to the U.S..

China has expressed its desire to leverage the gathering to push back against unilateral trade measures.

A spokesperson for China’s finance ministry criticized nations that “wield the big stick of tariffs, sabotaging international fairness and order, and heightening global security risks.”

The statement called for closer cooperation and joint efforts among BRICS members to counteract these challenges.

While some countries within the bloc advocate for a public rebuke of Trump’s policies, others prefer a more measured approach.

The ability to find consensus among diverse viewpoints will be critical for BRICS to demonstrate its effectiveness and avoid the divisions that have weakened institutions like the United Nations and the G-20.

Brazil’s Leadership and Multilateral Agenda

Under Brazil’s yearlong presidency, BRICS foreign ministers will prioritize aggressive climate action, public health cooperation, strengthened trade ties, and a defense of multilateralism.

Brazilian officials have emphasized that the bloc’s purpose is not to challenge U.S. leadership but to promote the development of emerging economies.

“The view that BRICS is an anti-American bloc is completely wrong,” Brazilian ambassador Mauricio Lyrio stated during a preparatory meeting. “The bloc was created to promote the development of developing countries, not to antagonize rich countries.”

Nevertheless, Brazil’s agenda positions BRICS as a potential bulwark of multilateralism, particularly as Trump’s policies have undermined global institutions. Since taking office, Trump has withdrawn the U.S. from the Paris Agreement and the World Health Organization, gutted foreign aid programs, and raised doubts about American participation in the G-20.

What you should know

  • A major sign of BRICS’ growing influence came last week when Brazil and the United Nations organized a virtual climate change event attended by over a dozen world leaders.
  • Notably, Trump and the U.S. were excluded, while China’s President Xi Jinping headlined the event, pledging his nation’s commitment to global cooperation in the climate fight.
  • As BRICS nations ramp up efforts to fill the void left by weakened multilateral institutions, the bloc’s ability to foster unity and collaboration among its members will determine its success in shaping the global order.
Tags: BRICSTrade WarU.S. Tariffs
Israel Ojoko

Israel Ojoko

Israel Ojoko is a dynamic journalist renowned for his in-depth coverage and insightful analysis on a diverse range of topics. With a keen eye for detail and a passion for storytelling, Israel has penned impactful articles on the economy, political developments, fintech, and cybersecurity, among many others. His dedication to uncovering the multifaceted narratives has established him as a trusted voice and influential figure in contemporary journalism.

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