brics

The Chilean Government, under President Gabriel Boric, is coordinating measures to support Chilean exporters in response to the recent tariff hikes in the United States. During a meeting with ministers of Foreign Affairs, Finance, Economy, and Agriculture, the necessity to strengthen sectoral risk monitoring, intensify trade with other countries, and diversify Chilean markets and products was discussed. The meeting also addressed possible adjustments to ProChile's Export Fund and the incorporation of financial risk management tools for exporting companies.

A study reveals that 8.3% of Chile's exports would be subject to tariffs set by the United States. The 10% tariffs would take effect on April 5th, with higher tariffs applying from April 9th. However, the U.S. decided to implement a 90-day pause for countries with a tariff above 10%, reducing it to this minimum for the said period. Countries like the European Union, Japan, and India are left with a temporary tariff of 10%. China was the only nation excluded from this three-month relief.

Meanwhile, Chilean walnuts are making their mark in India, playing a key role in the national agri-food expansion. The recent business tour to India, which included a Chilean delegation from the walnut industry led by the Chilenat association, highlighted the growing interest in Chilean walnuts in the Indian market. Despite current tariff barriers reaching 100%, exports have continued to grow.

Chilean exports showed positive figures during the first quarter of 2025, reaching USD 27.048 billion, a 5.9% increase compared to the same period in 2024. Non-traditional and service exports, which recorded an increase of 6.3% and 28% respectively, were particularly noteworthy.

On the international front, Indonesia, the world's fourth most populous country and the seventh largest in terms of gross domestic product by purchasing power parity, joined the expanded BRICS+ group in January 2025.

In a meeting held in Washington, Chile and the United States agreed to establish a roadmap to strengthen their bilateral economic and trade relationship, despite the new tariff rates. They agreed to advance on three thematic axes and set a new meeting for June in Santiago, within the framework of the Free Trade Agreement.

• Gobierno coordina medidas para apoyar a exportadores chilenos ante alza de aranceles en EE.UU. (Diarioconcepcion.cl)
• El 8,3% de las exportaciones de Chile estaría afecto a aranceles fijados por Estados Unidos (Eltipografo.cl)
• La nuez chilena conquista India: clave en la expansión agroalimentaria nacional (Radioagricultura.cl)
• Exportaciones chilenas aumentan 5,9% en primer trimestre - PortalPortuario (Portalportuario.cl)
• El “espíritu de Bandung” y el desarrollo industrial de Indonesia, nuevo miembro de los BRICS+ (Elciudadano.com)
• Chile y EE.UU. acuerdan agenda bilateral en medio de nuevas tarifas arancelarias (Pauta.cl)

The Indonesian Chamber of Commerce and Culture has been closely monitoring the recent developments in international trade and commerce. In this regard, we are pleased to share some of the significant events that have unfolded this week.

Firstly, Indonesia has fortified its alliance within BRICS, an international bloc comprising Brazil, Russia, India, China, and South Africa. Following an official request during Russia's presidency, Indonesia was granted membership earlier this year. This week, Russia's Deputy Foreign Minister, Serguéi Ryabkov, conducted an official visit to Indonesia, discussing further cooperation within the BRICS framework. Both parties acknowledged the progress made in the institutional development of BRICS, particularly under Russia's presidency in 2024.

Meanwhile, in the United States, President Donald Trump announced his plans to impose new tariffs on several countries next week. This move aims to balance the duties applied to US exports, sparking uncertainties about a possible trade war.

Despite these global trade tensions, Chile's export sector has shown resilience. Interestingly, the United States is not Chile's top trading partner, with exports exceeding $37 billion. This information was revealed in a recent report by the National Customs Service, dispelling concerns about the impact of Trump's proposed economic measures on Latin American countries.

Chilean exports have started 2025 positively, with a 10.4% annual increase in January, according to the Central Bank. Total exports amounted to $10.431 billion, while imports also grew by 8.3%. The export sector's strong performance was largely driven by the mining industry.

Furthermore, Chile's foreign trade began the year with record amounts and an increase in the value of copper shipments. The Central Bank reported the performance of exports, imports, and copper shipments, the country's star product, in January.

Lastly, Chilean fruits are seeking to enhance their presence and growth at Fruit Logistica 2025. Despite Europe being the fourth destination market for Chilean fresh fruits, the last seasons have shown significant recovery, with an increase of over 10% last year and almost 15% this season, with more than 135,000 tons exported to various European markets compared to the same period last year.

• Rusia e Indonesia refuerzan su alianza en BRICS (Elciudadano.com)
• Trump anunciará nuevos aranceles a varios países | 24horas (24horas.cl)
• No es Estados Unidos: este el principal socio comercial de Chile con exportaciones superiores a $37.000 millones de dólares – En Cancha (Encancha.cl)
• Las exportaciones chilenas parten el 2025 al alza de la mano de la minería | Diario Financiero (Df.cl)
• Comercio exterior de Chile comienza el año con montos récords y alza en el valor de los envíos de cobre (Redimin.cl)
• Frutas chilenas buscan potenciar su presencia y crecimiento en Fruit Logistica 2025 (Prochile.gob.cl)