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Economic Cold War? BRICS Coalition Declares Resistance to Trump-Era Trade Barriers

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Leaders of the BRICS nations gathering in Rio de Janeiro from Sunday are poised to voice strong opposition to former U.S. President Donald Trump’s aggressive trade tactics. However, they face internal discord over how to address escalating crises in the Middle East.....KINDLY READ THE FULL STORY HERE▶

Representing nearly half of the world’s population and around 40% of global GDP, the BRICS bloc—Brazil, Russia, India, China, and South Africa—is expected to issue a collective rebuke of what they deem unjust U.S. import tariffs, according to sources close to the summit negotiations.

Since assuming office in January, Trump has targeted both allies and adversaries with a series of steep tariffs. His latest move, beginning Friday, involves sending official notices to several trade partners ahead of new tariff hikes set for July 9.

Diplomats from 11 emerging economies have been working on a statement condemning the volatility these trade measures have introduced into the global economy. While the final communiqué is unlikely to explicitly name the U.S. or Trump, insiders say the message will unmistakably be directed at Washington.

“This summit will adopt a careful tone. It’s unlikely the United States will be mentioned by name,” said Marta Fernandez, director of the BRICS Policy Center at the Pontifical Catholic University of Rio de Janeiro.

Fernandez noted that China, which only recently reached a truce with the U.S. over mutual tariffs, is especially wary of igniting fresh tensions with Washington. “Now is not the time to stoke further conflict between the world’s two largest economies,” she added.

Xi’s Absence Overshadows Summit

Though BRICS was originally conceived as a coalition of fast-growing economies, it has increasingly evolved into a China-led alternative to Western influence. Yet, this year’s summit will lack some of its usual political weight due to the absence of Chinese President Xi Jinping—his first time missing the annual gathering in 12 years.

“There will undoubtedly be speculation about why Xi chose to skip,” said Ryan Hass, a former China director at the U.S. National Security Council and now a fellow at the Brookings Institution. He suggested Xi may be stepping aside to avoid being overshadowed by Indian Prime Minister Narendra Modi, who is being honored with a state lunch by host President Luiz Inácio Lula da Silva.

Russian President Vladimir Putin, facing an international arrest warrant for alleged war crimes, will also be absent in person, though he plans to join via video link, according to the Kremlin.

Hass suggested that the combined optics of Putin’s virtual attendance and Modi’s prominent role may have influenced Xi’s decision to delegate the trip to Premier Li Qiang instead.

For President Lula, Xi’s absence is a setback. In a single year, Brazil is hosting the G20 summit, the BRICS summit, and COP30 climate talks—an ambitious diplomatic push ahead of next year’s critical presidential elections in which Lula is expected to seek re-election.

Discord Over Middle East Response

Another major challenge for the summit is reaching a consensus on the conflicts in the Middle East. Iranian President Masoud Pezeshkian, whose country recently endured a 12-day war with Israel, is also skipping the event.

Negotiators remain divided over the bloc’s official stance on both the Gaza conflict and the recent Iran-Israel confrontation. While some BRICS members prefer moderate language focused on peaceful resolution and Palestinian statehood, Iran is reportedly lobbying for a more assertive joint position.

Despite these challenges, host Brazil hopes the BRICS alliance can maintain a united front. “BRICS countries have historically spoken with one voice on major global issues, and we see no reason why this shouldn’t be the case now with the Middle East,” Brazilian Foreign Minister Mauro Vieira told AFP.

The summit will also tackle broader topics, including advancements in artificial intelligence and global health cooperation. With newer members like Saudi Arabia, Iran, Egypt, the UAE, Ethiopia, and Indonesia recently joining the group, analysts say BRICS is gaining geopolitical heft—though with that comes increased complexity and competing interests.

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How I Deposited Billions In Cash For Emefiele, Witness Reveals

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In the ongoing ₦7.8 billion fraud trial of former Central Bank of Nigeria (CBN) Governor Godwin Emefiele, a prosecution witness has provided testimony regarding massive cash deposits made on his behalf.....KINDLY READ THE FULL STORY HERE▶

Key points from the testimony of the third prosecution witness, Richard Agulu, a former Zenith Bank employee, include:

  • Cash Deposits: Agulu testified that he deposited billions of naira in cash on behalf of the former CBN chief, with the funds delivered to him by Emefiele’s former personal assistant, Eric Ocheme.

  • Account Handling: According to the witness, the money was either deposited into accounts for Kelvito Integrated Services and Ifeabigo Integrated Services or placed in the bank’s vault, following instructions allegedly relayed through Ocheme.

  • Banking Procedures: Despite the large sums, Agulu maintained that he followed standard banking procedures, noting that some clients were granted verbal waivers by senior officials to deposit large amounts of cash.

  • Refusal to Name Officials: When asked to identify the senior bank officials who provided these verbal waivers, Agulu declined to provide names to avoid getting anyone in trouble.

  • Additional Transactions: Agulu also testified that he supervised a transfer of ₦1.6 billion to MG Properties Limited.

The Economic and Financial Crimes Commission (EFCC) is prosecuting Emefiele on eight counts, including criminal breach of trust, conspiracy, forgery, and unlawful possession of properties allegedly linked to proceeds of crime; Emefiele has entered a plea of not guilty. Eric Ocheme, who was named in the charges, is reported to be at large. Justice Yusuf Halilu has adjourned the trial for continuation on November 3, 4, and 5, 2026.

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“From Political Firebrand To Top Diplomat: Fani-Kayode’s Strategic Southern African Move!”

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Former Minister of Aviation, Chief Femi Fani-Kayode, has officially received his Letters of Credence for his role as Nigeria’s High Commissioner to South Africa, Lesotho, and Eswatini. Fani-Kayode announced the news on Tuesday, noting that the appointment followed the approval of the required agrément.....KINDLY READ THE FULL STORY HERE▶

The Letters of Credence were presented to him on behalf of President Bola Tinubu by the Minister of State for Foreign Affairs, Ambassador Sola Enikanolaiye. Fani-Kayode stated that he is preparing to report to Pretoria to present his letters to South African President Cyril Ramaphosa and begin his diplomatic duties. Reflecting on his appointment, the former minister—who served in the aviation sector two decades ago—expressed his gratitude to President Tinubu for the trust placed in him and requested prayers for his success in this new role.

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“I’ll Kill For Her!” Kunle Fawole Drops Shocking Bombshell About Ex-Flame Yvonne Jegede!.

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Nollywood actor Kunle Abounce Fawole recently opened up about his relationship with his ex-wife, Yvonne Jegede, in an interview with Chude Jideonwu. While confirming that he no longer holds romantic feelings for her, Fawole emphasized that he maintains a deep sense of responsibility and respect for her as the mother of his son. He expressed a desire to avoid enmity, noting that he would never turn his back on someone he once cared for, and firmly declared his willingness to protect her from harm at all costs.....KINDLY READ THE FULL STORY HERE▶

In a candid conversation with Chude Jideonwu, Kunle Abounce Fawole reflected on his past marriage to Yvonne Jegede. When asked about his current feelings, the actor clarified that while the romantic spark is gone, his protective instincts remain strong. Fawole shared that he prefers to take the blame for past relationship struggles to avoid bitterness, stating that he refuses to harbor grudges. Ultimately, he underscored his commitment to her safety, asserting that he would go to extreme lengths—even potentially resorting to violence—to defend the mother of his child.

Option 3: Short & Punchy

Kunle Abounce Fawole has made it clear that while his romantic chapter with ex-wife Yvonne Jegede is closed, his dedication to her protection is unwavering. During a recent interview, the actor revealed he has no room for bitterness toward past partners. Though he no longer loves her romantically, he stressed that his status as the father of her son drives him to act as her fiercest defender, even going so far as to say he would “kill” for her if she were ever threatened.

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