The so-called BRICS group of countries is reportedly set to issue a formal statement criticizing the United States current tariff situation when the group meets for a two-day summit in Brazil.

BRICS leaders meeting in Rio de Janeiro from Sunday are expected to decry US President Donald Trump's "indiscriminate" trade tariffs, saying they are illegal and risk hurting the global economy. It warns that such measures "threaten to further reduce global trade" and are "affecting the prospects for global economic development.