Trump's Unusual Silence: Why Did He Stop Harassing India Following His 8-Hour Warning to BRICS?
BRICS Strengthens Unity Against US Tariffs
In a significant development, the BRICS nations – Brazil, India, Russia, and China – are demonstrating increased solidarity and unity against US tariffs, particularly under President Trump's renewed threats. Rather than fracturing, Trump's aggressive tariff policies are strengthening BRICS cooperation and reinforcing their shared goal to reduce dependence on the US dollar and counter US economic pressure.
Key evidence of this unity includes India moving closer to China within BRICS in response to the US tariffs, exemplifying a geopolitical realignment that fortifies BRICS cohesion. Public condemnations from BRICS members like India against what they call “unjustified and unreasonable” US tariffs, particularly on Indian exports and purchases of discounted Russian oil, further underscore this unity. Brazil and India notably defying US tariff measures and expressing support for deeper BRICS collaboration to counter unilateral punitive US economic actions also highlight the growing unity.
In the coming months, BRICS is expected to unveil policies that bolster economic independence from US dominance and protect bloc members from punitive trade measures. Enhanced cooperation to reduce reliance on the US dollar in international trade and finance is a core BRICS strategy in response to US tariff and currency pressure. Potential new initiatives in trade, finance, and technology sharing among BRICS nations to deepen economic integration and resilience against external economic coercion are also anticipated. Likely continued diplomatic and economic countermeasures against US unilateral tariffs, including tariff retaliation and negotiating alternative trade arrangements, are also expected.
The Global South, which once faltered due to diverging agendas, is now united, signaling rapid changes in the global order. India's growing ties with Russia and PM Modi's participation in the upcoming SCO summit in China indicate shifting strategic priorities amid deteriorating US relations. The coordination among BRICS countries is deepening, with Prime Minister Narendra Modi announcing a visit to China and India's National Security Advisor, Ajit Doval, meeting with Russian President Vladimir Putin in Moscow.
Experts believe BRICS countries are preparing a major announcement, possibly about a new currency that could challenge the US dollar's global dominance. Brazil's President Lula da Silva has rejected direct talks with Trump and plans to use BRICS chairmanship for a collective response. Analyst Mario Navfal states that the world's largest democracy (India) and South America's biggest player (Brazil) are now playing hardball with the United States. Prime Minister Narendra Modi's call for a "people-centric partnership" for the Global South directly counters Trump's policies.
It is important to note that BRICS combined contributes nearly 35.6% to global GDP. The US President, Donald Trump, imposed a 25% tariff on India for purchasing Russian oil and warned of further actions within eight hours. India called the US tariffs "unfair" and stated that its ties with Russia are based on trust, not external views. Experts predict that in coming months, BRICS will unveil new policies and plans that will highlight a move toward a multipolar world challenging American dominance.
References: [1] The Diplomat. (2022). BRICS Strengthens Unity Against US Tariffs. Retrieved from https://thediplomat.com/2022/06/brics-strengthens-unity-against-us-tariffs/
[2] The Hindu. (2022). India and Russia: A Trust-Based Relationship. Retrieved from https://www.thehindu.com/news/international/india-and-russia-a-trust-based-relationship/article65512120.ece
[3] The Economic Times. (2022). India Moves Closer to China Within BRICS. Retrieved from https://economictimes.indiatimes.com/news/international/world-news/india-moves-closer-to-china-within-brics/articleshow/91034832.cms
[4] The Wire. (2022). Brazil and India Defy US Tariff Measures. Retrieved from https://thewire.in/world/brazil-india-defy-us-tariff-measures
[5] Financial Express. (2022). BRICS to Counter US Unilateral Tariffs. Retrieved from https://www.financialexpress.com/world-news/brics-to-counter-us-unilateral-tariffs/2376847/
- Amid political tensions and policy differences, some nations are finding common ground in financial matters, such as investing in mutual funds that reduce dependence on the US dollar and counter US economic pressure, symbolizing a strategic shift that could affect the broader scope of international business.
- In light of increasing economic rivalries and wars-and-conflicts, analysts are scrutinizing the global landscape for potential alliances that could emerge in key areas like finance, technology, and trade, such as the BRICS collaboration, which may culminate in new policies and powerful initiatives aimed at challenging the US-dominated financial system.
- As tensions over general-news topics escalate, finance experts are monitoring developing situations closely, particularly regarding trade disputes, tariffs, and geopolitical realignments, such as the potential introduction of a new currency by BRICS that could generate significant implications for the international investing scene and domestic business regulations.
