As renewed US tariffs loom, emerging economies turn to one another

America's trading partners are bracing for US President Donald Trump to impose new tariffs soon on everything from children's toys to soybeans. Yet, instead of rushing to strike trade deals with the United States, the world's largest developing economies have other plans.

- By ANA IONOVA

At a two-day gathering in Rio de Janeiro, members of the BRICS group that includes Brazil, Russia, India, China, South Africa and other nations, vowed to deepen ties and mulled ways they could cut red tape to make it easier to trade with one another.

Without naming the United States or Trump, the alliance criticized barriers to international trade and defended the right of its member countries, which represent more than 40 percent of the world's gross domestic product, to retaliate against what officials portrayed as unfair tariffs.