On September 8, as BRICS acting Chair, Brazil convened a special online Summit of BRICS to discuss a common response to US tariffs imposed under the Trump Administration.

This diplomatic act is unprecedented due to the following circumstances:

• The second summit was organized for the first time in BRICS' nearly twenty-year history.
• The online summit was held only two months after the Rio Summit in early July and within two weeks of its announcement.

Key takeaways for business:

• From agendas to action: BRICS is moving from long-term planning to rapid crisis response.
• New financial tools: acceleration of BRICS Pay, BRICS-Clear, and a joint reinsurance company.
• Trade & investment shifts: growing use of national currencies and sanctions-resistant mechanisms.

In our new Kesarev memo, we explore what this turning point means for companies operating across BRICS and the Global South.

Read the full article below.