India and Brazil Show United Front on US Tariffs and UN Reforms

Brazilian President Lula da Silva and Indian PM Modi discussed the implications of new US tariffs and the need for UN reforms. Both leaders agreed to monitor US policy developments and expressed commitment to reforming international institutions. Currency settlements in local terms were discussed, not a BRICS currency.

During bilateral talks, Brazilian President Luiz Inacio Lula da Silva and Indian Prime Minister Narendra Modi deliberated on the recent shifts in US trade policies, particularly the new tariffs. Secretary (East) in the Ministry of External Affairs P Kumaran described these as 'rather new developments' requiring further assessment by both nations.

The leaders are in a 'wait-and-watch mode' to see how the US administration responds to recent Supreme Court rulings impacting trade. They emphasized the necessity of understanding which tariffs will persist and which will be removed, following President Trump's announcement of a 10% tariff.

No discussions on a BRICS currency took place, according to Kumaran, although local currency trade settlements were explored. There is also a mutual understanding between Brazil and India, both G4 members, to push for United Nations reforms as part of their multilateral engagements.

(With inputs from agencies.)