BRICS nations criticise protectionism, condemn Israeli strikes against Qatar, Pg14

Key Highlights:

• BRICS nations criticized protectionism and tariff volatility at a Foreign Ministers meeting during the 80th session of the UN General Assembly.
• The meeting, hosted by India's External Affairs Minister S. Jaishankar, condemned Israel's attack on Qatar and expressed concerns for Palestine.
• BRICS nations rejected climate-related unilateral tariffs like Carbon Border Adjustment Mechanisms (CBAMs).
• The group called for an immediate ceasefire in the Israel-Gaza conflict and supported a two-state solution.
• BRICS countries advocated for reforms in multilateral organizations like the UN Security Council and Bretton Woods institutions.

Detailed Insights:

• The BRICS statement comes amid global trade upheaval following U.S. tariff policies, which have led to higher tariffs and repeated rate changes.
• BRICS views rising protectionism, tariff volatility, and non-tariff barriers as threats to the multilateral trading system.
• The group warned that unilateral tariff measures could fragment global trade and marginalize the Global South.
• BRICS ministers condemned the September 9, 2025 airstrike on Qatar as a violation of its sovereignty and international law.
• The statement also condemned attacks on Iran's civilian infrastructure and peaceful nuclear facilities under the IAEA's safeguard since June 13, 2025.
• BRICS countries expressed grave concerns over the suffering caused by Israel's attacks on Gaza and called for the release of October 7 hostages.
• The group reiterated its support for a two-state solution with a Palestine state comprising the Gaza Strip and West Bank, with its capital in East Jerusalem.
• Despite being a BRICS member, China has not supported India's bid for a permanent seat on the UN Security Council.

Key Concepts Involved:

• Protectionism: Imposing tariffs or quotas on imports to protect domestic industries from foreign competition.
• Tariff Volatility: Frequent and unpredictable changes in tariff rates, creating uncertainty for businesses.
• Multilateral Trading System: A system of international trade based on agreed-upon rules and principles, typically under the WTO.
• Carbon Border Adjustment Mechanisms (CBAMs): Tariffs on imports based on the carbon emissions associated with their production.