Brics is "more relevant than ever" and a "multilateral approach ... for the limitations of the rules-based multilateral trade system", Brazilian Foreign Minister Mauro Vieira said on Tuesday as the South American country prepares to host the bloc's summit in July.

By bnl Sao Paulo bureau Brasilia hosted the first BRICS Sherpas meeting under the Brazilian Presidency on February 24-25, bringing together representatives from all 11 member countries at the Itamaraty Palace,

BRASILIA -- Brazilian Foreign Affairs Minister Mauro Vieira on Tuesday opened the first meeting of BRICS Sherpas, or chief negotiators, with Brazil holding the rotating presidency of the bloc, the Foreign Ministry confirmed.

Trump believes that tariffs could fend off importing foreign goods, which is damaging the economy. His tariffs will create what he calls a “ring around the US economy” to discourage imports and boost domestic production.