IBOV 167,872 ▼ 0.24% IPSA 10,897 ▲ 0.56% IPC MEX 67,472 ▼ 1.16% MERVAL 3,287,798 ▼ 1.37% COLCAP 2,456.59 ▲ 2.10% BVL PERÚ 56,725.28 ▼ 2.20% USD/BRL5.14▼ 0.45% USD/MXN17.33▼ 0.17% USD/CLP901.72▲ 0.03% USD/COP3,447▼ 0.33% USD/PEN3.38▼ 0.10% USD/ARS1,463▲ 0.83% USD/UYU39.97▲ 0.34% USD/PYG6,069▲ 1.05% USD/BOB6.86▲ 1.56% USD/DOP58.33▲ 0.80% USD/CRC450.55▲ 1.88% USD/GTQ7.62▲ 2.25% USD/HNL26.67▲ 1.34% USD/NIO36.62▲ 0.66% USD/VES605.87▲ 3.27% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD155.98▼ 0.59% USD/TTD6.70▲ 0.55% EUR/BRL5.90▲ 0.16% BRENT 80.59 ▲ 0.93% WTI 76.54 ▼ 0.08% IRON ORE 161.91 — — COPPER 6.34 ▼ 0.59% GOLD 4,173 ▼ 1.21% SILVER 64.91 ▼ 2.03% SOY 1,142 ▲ 0.88% CORN 444.25 ▲ 5.52% WHEAT 613.25 ▲ 0.08% COFFEE 256.10 ▼ 7.83% SUGAR 14.14 ▲ 2.09% ORANGE JUICE 158.20 ▲ 6.28% COTTON 79.33 ▲ 3.16% COCOA 4,362 ▲ 5.26% BEEF 246.75 ▼ 3.51% CATTLE 366.93 ▼ 0.14% LITHIUM 82.15 ▼ 1.11% PETR4 38.78 ▼ 0.18% VALE3 80.11 ▲ 0.21% ITUB4 39.78 ▼ 0.87% BBDC4 17.49 ▲ 0.11% ABEV3 16.23 ▲ 0.06% BBAS3 19.51 ▼ 0.10% B3SA3 14.41 ▲ 0.56% WEGE3 45.00 ▼ 1.77% PRIO3 57.05 ▲ 0.14% SUZB3 43.21 ▼ 0.85% RENT3 40.00 ▼ 0.22% AZZA3 16.49 ▲ 1.73% CSAN3 3.44 ▲ 1.18% RAIZ4 0.41 ▲ 2.50% PCAR3 1.92 ▲ 6.67% GMAT3 3.85 ▲ 0.52% PSSA3 52.27 ▼ 0.40% CVCB3 1.21 ▼ 2.42% POSI3 4.08 ▲ 7.65% SLCE3 13.56 ▲ 0.15% NATU3 7.45 ▲ 0.27% BRKM5 7.29 ▼ 2.93% RANI3 7.84 ▼ 0.25% CSNA3 5.15 ▼ 0.58% CMIN3 4.27 ▲ 1.43% USIM5 9.13 ▲ 0.33% GGBR4 21.73 ▲ 0.37% ENEV3 24.25 ▲ 0.62% NEOE3 33.80 — 0.00% CPFE3 43.77 ▼ 0.55% CMIG4 10.71 ▼ 0.09% EQTL3 36.86 — 0.00% LREN3 14.22 ▲ 1.64% VIVT3 32.24 ▼ 1.35% RAIL3 12.31 ▼ 0.16% KLABIN 16.96 ▼ 1.57% RAIA DROGASIL 16.36 ▼ 1.15% RDOR3 33.08 ▼ 0.51% HAPV3 10.42 ▼ 1.51% FLRY3 14.87 ▲ 0.27% SMTO3 14.72 ▼ 1.67% UGPA3 25.14 ▲ 1.25% VBBR3 28.57 ▼ 0.07% BBSE3 38.76 ▼ 1.72% BPAC11 50.88 ▲ 0.06% CURY3 33.01 ▲ 0.89% AERI3 2.25 — 0.00% VIVARA 20.78 ▼ 1.33% COMPASS 24.56 ▼ 0.57% VAMOS 2.70 ▼ 0.37% SANB11 26.62 ▼ 0.37% ASAI3 7.67 ▼ 0.13% SBSP3 26.90 — 0.00% WALMEX 51.20 ▲ 1.81% GMEXICO 208.61 ▼ 2.82% FEMSA 215.03 ▼ 1.95% CEMEX 21.71 ▼ 2.30% GFNORTE 188.29 ▼ 1.69% BIMBO 57.19 ▲ 0.30% TELEVISA 10.50 ▲ 0.10% AMX 22.65 ▼ 1.44% GAP 436.98 ▼ 0.69% ASUR 308.21 ▲ 2.26% OMA 241.06 ▼ 2.39% KOF 184.28 ▼ 2.99% GRUMA 290.06 ▲ 0.47% KIMBER 37.33 ▲ 1.03% SQM-B 72,050 ▲ 0.14% COPEC 5,923 ▲ 1.05% BSANTANDER 74.00 ▲ 0.41% FALABELLA 6,060 ▼ 0.64% ENELAM 82.94 ▲ 10.15% CENCOSUD 2,175 ▲ 0.68% CMPC 1,046 ▼ 0.82% BANCO CHILE 182.36 ▼ 0.06% LATAM AIR 24.85 ▼ 1.07% YPF 75,800 ▼ 0.43% GGAL 8,250 ▼ 2.94% PAMPA 5,200 ▼ 0.38% TXAR 673.00 ▼ 1.10% ALUAR 996.00 ▼ 1.39% TGS 9,745 ▲ 2.36% CEPU 2,359 ▼ 0.08% MIRGOR 16,375 ▼ 2.67% COME 45.17 ▼ 1.38% LOMA NEGRA 3,580 ▼ 0.07% BYMA 317.50 ▼ 2.16% TELECOM ARG 4,170 ▼ 0.66% ECOPETROL 16.58 ▲ 5.81% BANCOLOMBIA 81.45 ▲ 1.89% GRUPO AVAL 5.75 ▲ 3.05% CREDICORP 382.76 ▼ 1.08% SOUTHERN COPPER 192.93 ▲ 0.65% BUENAVENTURA 32.58 ▼ 4.85% MERCADOLIBRE 1,635 ▲ 0.20% NUBANK 12.71 ▼ 1.40% XP 15.30 ▼ 0.78% PAGSEGURO 8.82 ▼ 1.01% STONE 10.59 ▼ 1.67% GLOBANT 30.74 ▼ 11.18% TECNOGLASS 45.97 ▲ 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0.59% GOLD 4,173 ▼ 1.21% SILVER 64.91 ▼ 2.03% SOY 1,142 ▲ 0.88% CORN 444.25 ▲ 5.52% WHEAT 613.25 ▲ 0.08% COFFEE 256.10 ▼ 7.83% SUGAR 14.14 ▲ 2.09% ORANGE JUICE 158.20 ▲ 6.28% COTTON 79.33 ▲ 3.16% COCOA 4,362 ▲ 5.26% BEEF 246.75 ▼ 3.51% CATTLE 366.93 ▼ 0.14% LITHIUM 82.15 ▼ 1.11% PETR4 38.78 ▼ 0.18% VALE3 80.11 ▲ 0.21% ITUB4 39.78 ▼ 0.87% BBDC4 17.49 ▲ 0.11% ABEV3 16.23 ▲ 0.06% BBAS3 19.51 ▼ 0.10% B3SA3 14.41 ▲ 0.56% WEGE3 45.00 ▼ 1.77% PRIO3 57.05 ▲ 0.14% SUZB3 43.21 ▼ 0.85% RENT3 40.00 ▼ 0.22% AZZA3 16.49 ▲ 1.73% CSAN3 3.44 ▲ 1.18% RAIZ4 0.41 ▲ 2.50% PCAR3 1.92 ▲ 6.67% GMAT3 3.85 ▲ 0.52% PSSA3 52.27 ▼ 0.40% CVCB3 1.21 ▼ 2.42% POSI3 4.08 ▲ 7.65% SLCE3 13.56 ▲ 0.15% NATU3 7.45 ▲ 0.27% BRKM5 7.29 ▼ 2.93% RANI3 7.84 ▼ 0.25% CSNA3 5.15 ▼ 0.58% CMIN3 4.27 ▲ 1.43% USIM5 9.13 ▲ 0.33% GGBR4 21.73 ▲ 0.37% ENEV3 24.25 ▲ 0.62% NEOE3 33.80 — 0.00% CPFE3 43.77 ▼ 0.55% CMIG4 10.71 ▼ 0.09% EQTL3 36.86 — 0.00% LREN3 14.22 ▲ 1.64% VIVT3 32.24 ▼ 1.35% RAIL3 12.31 ▼ 0.16% KLABIN 16.96 ▼ 1.57% RAIA DROGASIL 16.36 ▼ 1.15% RDOR3 33.08 ▼ 0.51% HAPV3 10.42 ▼ 1.51% FLRY3 14.87 ▲ 0.27% SMTO3 14.72 ▼ 1.67% UGPA3 25.14 ▲ 1.25% VBBR3 28.57 ▼ 0.07% BBSE3 38.76 ▼ 1.72% BPAC11 50.88 ▲ 0.06% CURY3 33.01 ▲ 0.89% AERI3 2.25 — 0.00% VIVARA 20.78 ▼ 1.33% COMPASS 24.56 ▼ 0.57% VAMOS 2.70 ▼ 0.37% SANB11 26.62 ▼ 0.37% ASAI3 7.67 ▼ 0.13% SBSP3 26.90 — 0.00% WALMEX 51.20 ▲ 1.81% GMEXICO 208.61 ▼ 2.82% FEMSA 215.03 ▼ 1.95% CEMEX 21.71 ▼ 2.30% GFNORTE 188.29 ▼ 1.69% BIMBO 57.19 ▲ 0.30% TELEVISA 10.50 ▲ 0.10% AMX 22.65 ▼ 1.44% GAP 436.98 ▼ 0.69% ASUR 308.21 ▲ 2.26% OMA 241.06 ▼ 2.39% KOF 184.28 ▼ 2.99% GRUMA 290.06 ▲ 0.47% KIMBER 37.33 ▲ 1.03% SQM-B 72,050 ▲ 0.14% COPEC 5,923 ▲ 1.05% BSANTANDER 74.00 ▲ 0.41% FALABELLA 6,060 ▼ 0.64% ENELAM 82.94 ▲ 10.15% CENCOSUD 2,175 ▲ 0.68% CMPC 1,046 ▼ 0.82% BANCO CHILE 182.36 ▼ 0.06% LATAM AIR 24.85 ▼ 1.07% YPF 75,800 ▼ 0.43% GGAL 8,250 ▼ 2.94% PAMPA 5,200 ▼ 0.38% TXAR 673.00 ▼ 1.10% ALUAR 996.00 ▼ 1.39% TGS 9,745 ▲ 2.36% CEPU 2,359 ▼ 0.08% MIRGOR 16,375 ▼ 2.67% COME 45.17 ▼ 1.38% LOMA NEGRA 3,580 ▼ 0.07% BYMA 317.50 ▼ 2.16% TELECOM ARG 4,170 ▼ 0.66% ECOPETROL 16.58 ▲ 5.81% BANCOLOMBIA 81.45 ▲ 1.89% GRUPO AVAL 5.75 ▲ 3.05% CREDICORP 382.76 ▼ 1.08% SOUTHERN COPPER 192.93 ▲ 0.65% BUENAVENTURA 32.58 ▼ 4.85% MERCADOLIBRE 1,635 ▲ 0.20% NUBANK 12.71 ▼ 1.40% XP 15.30 ▼ 0.78% PAGSEGURO 8.82 ▼ 1.01% STONE 10.59 ▼ 1.67% GLOBANT 30.74 ▼ 11.18% TECNOGLASS 45.97 ▲ 1.86% GAP AIRPORT 254.31 ▲ 2.30% ASUR 308.21 ▲ 2.26% OMA AIRPORT 114.00 ▲ 2.21% AMX ADR 26.46 ▲ 0.04% FEMSA ADR 126.47 ▲ 0.72% CEMEX ADR 12.73 ▲ 1.03% PETROBRAS ADR 16.75 ▼ 0.24% VALE ADR 15.42 ▼ 0.71% ITAU ADR 7.79 ▼ 2.26% SANTANDER BR 5.20 ▼ 3.17% AMBEV ADR 3.12 ▼ 0.64% CSN 1.03 ▼ 8.04% GERDAU 4.17 ▼ 7.13% LATAM ADR 55.85 ▲ 2.40% BTC 62,933 ▲ 0.06% ETH 1,696 ▼ 0.82% SOL 68.85 ▼ 1.12% XRP 1.13 ▼ 1.24% BNB 577.60 ▼ 0.07% ADA 0.16 ▼ 1.73% DOGE 0.08 ▼ 0.61% AVAX 6.09 ▼ 3.44% LINK 7.87 ▼ 1.66% DOT 0.96 ▼ 1.49% LTC 44.28 ▲ 1.09% BCH 196.20 ▼ 1.57% TRX 0.32 ▲ 0.46% XLM 0.22 ▼ 5.92% HBAR 0.08 ▲ 0.52% NEAR 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Analysis Africa

When Unity Falters: How Tariffs Unraveled the BRICS Dream

By · August 9, 2025 · 5 min read

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(Op-Ed Analysis) The idea of BRICS as a powerful economic bloc challenging Western dominance has long been promoted as a game-changer for emerging nations.

But recent events — like Donald Trump’s assertive tariff policies — have stripped away the illusion, revealing it as little more than a loose gathering where rhetoric outpaces action and members prioritize their own survival over collective strength.

Trump’s imposition of 50% tariffs on imports from Brazil and India in early August 2025 served as the group’s first major real-world test since its expansion.

The outcome was a resounding display of disunity, with silence, vague statements, and individual negotiations replacing any bold, coordinated response.

Originally formed in 2009 as BRIC (Brazil, Russia, India, China) to give big emerging economies a louder voice in global institutions like the IMF and World Bank, the group added South Africa in 2010.

It started with promise: these countries represented over 40% of the world’s population and about 25% of global GDP by the mid-2010s.

Meetings focused on trade, development banks (like the New Development Bank established in 2014), and even talks of reducing reliance on the U.S. dollar.

China, as the economic heavyweight with a GDP exceeding $18 trillion in 2024, began using BRICS as a platform to expand its influence, often clashing with India’s ambitions.

India’s economy hit $3.7 trillion that year but remained wary of Beijing’s dominance in areas like border disputes and trade imbalances.

BRICS leaders eye the “global influence pie” while external pressures pull the strings. Lofty rhetoric collides with the reality of tariffs, sanctions, and de-dollarization debates.
BRICS leaders eye the “global influence pie” while China pulls the strings. Lofty rhetoric collides with the reality of tariffs, sanctions, and de-dollarization debates.
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When Unity Falters: How Tariffs Unraveled the BRICS Dream

Russia, facing sanctions since 2014 over Ukraine, saw it as a geopolitical tool, while Brazil and South Africa struggled to assert equal footing.

The 2024 expansion added Egypt, Ethiopia, Iran, and the UAE (Saudi Arabia joined in talks but held back), ballooning the group to nine members.

This move, pushed by China and Russia with Brazil’s approval under President Lula da Silva, was meant to boost clout but instead watered down cohesion.

The new mix included authoritarian regimes and diverse economies, turning BRICS into more of a forum for anti-Western grievances than a functional alliance.

Total combined GDP reached around $28 trillion by 2025, but that figure masks deep divisions: trade among members was only about 12% of their total global trade, far below blocs like the EU where intra-trade hits 60%.

https://www.riotimesonline.com/trump-calls-brics-a-fading-group-claims-rio-meeting-was-barely-attended/

Trump’s tariffs hammered this home. Starting July 2025, he targeted over 60 countries with “reciprocal” duties, but BRICS nations bore the brunt.

Brazil faced 50% hikes on key exports like soy, steel, and beef—worth $30 billion annually to the U.S. market—also partly as punishment for aligning with China and Russia.

India got slapped with the same rate, including an extra 25% penalty for buying Russian oil amid the Ukraine conflict, affecting $50 billion in U.S.-bound goods like textiles and pharmaceuticals.

Trump’s rationale? BRICS’ “anti-American policies,” including de-dollarization talks that threatened the dollar’s role in 70% of global trade.

He warned of 100% tariffs if any alternative currency advanced, repositioning global trade from multilateral rules (like those from Bretton Woods in 1944) to bilateral arm-twisting.

The BRICS response? Crickets at first, then hesitation. At the July 2025 summit in Rio, leaders issued a statement slamming “unilateral trade restrictions” but avoided naming the U.S. or Trump directly, fearing escalation.

No joint countermeasures emerged—no shared tariffs on U.S. goods, no unified appeal to the WTO.

Brazil’s Lula and India’s Modi walk a fraying tightrope between Washington and BRICS ambitions. The safety net of “summit promises” offers little protection when real trade disputes hit.
Brazil’s Lula and India’s Modi walk a fraying tightrope between Washington and BRICS ambitions. The safety net of “summit promises” offers little protection when real trade disputes hit.

Every Country for Itself

Instead, it was every country for itself. China fired back rhetorically, with Xi Jinping declaring no nation would “oppress” Beijing, but pursued quiet deals to shield its $500 billion in U.S. exports.

India halted $20 billion in planned U.S. arms and aircraft buys as retaliation, while exploring direct talks with Washington to ease the pain—despite Modi’s public BRICS boosterism.

Brazil’s Lula called for a “joint evaluation” of impacts but admitted no point in humiliating himself by begging Trump for relief; he floated retaliatory 50% duties on U.S. imports but backed off amid domestic pushback from exporters.

Russia, already sanctioned, shrugged it off, while smaller members like Ethiopia stayed silent, offering nothing beyond resentment.

This disarray highlights BRICS’ core flaws: it’s not a true bloc like NATO or the EU, with binding treaties or shared military/economic policies.

It’s a club where China pulls strings for its Belt and Road ambitions, India hedges between Moscow and Washington (buying Russian oil at discounts while joining U.S.-led Quad), and others like Brazil get sidelined.

Lula’s foreign policy, rooted in anti-Americanism from advisor Celso Amorim’s doctrine, bet big on BRICS as a “Global South” counterweight since his 2023 return to power.

He hosted the 2025 summit amid fanfare, touting leadership, but the tariff fallout exposed isolation.

Meanwhile, flirting with autocrats like Putin and Xi—through public nods and de-dollarization chatter—only provoked Trump further, shrinking diplomatic room.

Why does this matter in simple terms? Imagine joining a team that’s supposed to back you up in a fight, but when trouble hits, everyone scatters to save themselves.

Trump’s tariffs send shockwaves through BRICS, exposing deep fault lines. While the bloc scrambles to respond, Washington watches with satisfaction.
Trump’s tariffs send shockwaves through BRICS, exposing deep fault lines. While the bloc scrambles to respond, Washington watches with satisfaction.

Ideological Postering We are Tired of

That’s BRICS. For everyday people, it means higher prices, job losses, and economic uncertainty—Brazilian farmers lose U.S. buyers, Indian factories face shutdowns, all because leaders chase grand visions over practical deals.

You should know this because global alliances shape your wallet and security. In a world where the U.S. market ($26 trillion GDP) still calls shots, betting on shaky groups like BRICS can backfire, leaving countries like Brazil as pawns.

True independence comes from smart, pragmatic ties—diversifying partners, building credibility, and defending national interests—not ideological posturing that turns diplomacy into a stage for personal ambitions.

📌 Read our complete guide: BRICS in 2026: Complete Guide to the 11-Nation Bloc Reshaping Global Trade

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