Trump has threatened to impose 100% tariffs against the bloc if they take any moves to undermine the dollar. Last year, at the summit hosted by Russia in Kazan, the Kremlin sought to develop alternatives to U.S.-dominated payment systems which would allow it to dodge Western sanctions imposed after Russia’s invasion of Ukraine in February 2022

As Trump doles out tariffs and moves away from global climate pacts, Brazil’s Lula is ready to step into the spotlight with his vision for international cooperation.