LATIN AMERICA ADVISOR

LATIN AMERICA ADVISOR

A daily publication Of the dialogue

July 15, 2025

What Did BRICS Members Achieve at Their Rio Summit?

Last week’s BRICS summit in Rio de Janeiro brought together leaders including Chinese Premier Li Qiang and the summit’s host, Brazilian President Luiz Inácio Lula da Silva. // Photo: Brazilian Government.

Q

A

Tara Hariharan, managing director and head of Global Macro Research at NWI Management LP: “In their joint declaration, the BRICS nations in Rio broadly defended multilateralism and international law, the Paris climate accords and the interests of the developing world. The group seeks greater representation in the U.N. Security Council and larger IMF/World Bank quotas. It envisions a five-year roadmap to finance efforts to address climate change, and proposes multilateral investment guarantees for developing nations’ infrastructure and development. While not mentioning the United States, the ‘indiscriminate use of tariffs’ was decried, prompting President Trump’s threat of 10 percent tariffs; Trump earlier suggested 100 percent tariffs should BRICS seek to shun the dollar, which they do not, although they espouse diversified trade in multiple currencies. The bloc advocated peaceful dispute resolution, including in Gaza, but criticized…”

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The Inter-American Dialogue publishes the Latin America Advisor every business day for a distinguished membership of informed corporate leaders, scholars, and government officials invested in Latin America’s development and future. The Advisor‘s highly regarded Q&A section covers questions submitted by subscribers themselves. Commentators regularly include heads of state, business leaders, diplomats, economists, analysts, and thought leaders from around the world. Many of the world’s largest and fastest-growing companies subscribe to the Advisor. To subscribe, click here. For terms and conditions, click here. For more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.

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Gene Kuleta
Editor
202.463.2920
gkuleta@thedialogue.org

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board of advisors

Diego Arria
Director,
Columbus Group

Merike Blofield
Professor of Political Science,
University of Hamburg

Devry Boughner Vorwerk
CEO,
DevryBV Sustainable Strategies

Joyce Chang
Global Head of Research,
J.P. Morgan

Marlene Fernández
Corporate Vice President for Gov’t Relations,
Arcos Dorados (McDonald’s)

Peter Hakim
President Emeritus,
Inter-American Dialogue

Donna Hrinak
Director,
Adtalem Global Education

Jon E. Huenemann
Council Member,
GLG Inc.

James R. Jones
Chairman,
Monarch Global Strategies

Craig Kelly
Senior Director,
Int’l Gov’t Relations,
Exxon Mobil

Barbara Kotschwar
Professor of Political Economy,
Georgetown University

John Maisto
Director,
US Education Finance Group

Nicolas Mariscal
Chairman,
Grupo Marhnos

Thomas F. McLarty III
Chairman,
McLarty Associates

Beatrice Rangel
Director,
AMLA Consulting

Ernesto Revilla
Head of Latin American Economics, Citi

Gustavo Roosen
President,
IESA

Andrés Rozental
President, Rozental &
Asociados

Shelly Shetty
Managing Director,
Sovereigns, Fitch

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