The group of emerging economies—including Brazil, Russia, India and China—has long sought to present itself as a multilateral counterweight to a U.S.-dominated world order.

Developing nations participating in the BRICS summit on Monday brushed away an accusation from U.S. President Donald Trump that the bloc is "anti-American," as he threatened them with additional 10% tariffs.

President Donald Trump has threatened new tariffs on any nation supporting “anti-American” policies of the BRICS group of emerging economies, as he announced tariff letters would be sent out to scores of countries from Monday,