India Distances Itself From BRICS To Secure Trade Deals With the US
BRICS member India is shielding itself from Trump’s tariffs by projecting it has no plans to challenge the US dollar. India is seeking to dodge Trump’s tariffs after he threatened to impose duties on countries that move away from the USD. India is now stressing that it has no intentions of ditching the greenback for global trade and transactions, reported Bloomberg.
The move is to remain in the good books of Trump by not allowing him to impose tariffs on goods. Officials in New Delhi are closely monitoring the tariff changes and are informing the US authorities that they intend not to undermine the greenback. India, despite being a BRICS member since 2009 does not want to fall under Trump’s ambit of additional tariff policies.
Also Read: BRICS Omits De-Dollarization & New Currency at 2025 Summit
BRICS Member India Aims To Secure Trade Deals With the US
Trump followed on with his threats by slapping Brazil with 50% tariffs on Wednesday signaling that he’s serious. Also, the duties from Trump come just two-days after the BRICS 2025 summit where Brazil and India took center stage. Brazil’s President Lula da Silva lashed out at Trump for the tariffs saying that he “will not accept tutelage.”
“Trump is unhappy with some BRICS members (India) who have been talking about an alternate reserve currency,” said Mohan Kumar, an envoy at the World Trade Organization. “India has time and again differentiated between local currency trade and de-dollarization and therefore doesn’t fall in that category.” The Indian trade negotiators have put forward their best offer and now the Trump administration has to respond.
Also Read: No BRICS Currency Planned, Says Group’s Envoy
Vice President JD Vance also recently spoke highly of BRICS member India and appreciated its growing yet robust economy. The fate of the 21st Century “is going to be determined by the strength of the United States and India partnership,” he said, indicating that the two countries have to work together for the betterment of their economies.
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India Distances Itself From BRICS To Secure Trade Deals With the US
BRICS member India is shielding itself from Trump’s tariffs by projecting it has no plans to challenge the US dollar. India is seeking to dodge Trump’s tariffs after he threatened to impose duties on countries that move away from the USD. India is now stressing that it has no intentions of ditching the greenback for global trade and transactions, reported Bloomberg.
The move is to remain in the good books of Trump by not allowing him to impose tariffs on goods. Officials in New Delhi are closely monitoring the tariff changes and are informing the US authorities that they intend not to undermine the greenback. India, despite being a BRICS member since 2009 does not want to fall under Trump’s ambit of additional tariff policies.
Also Read: BRICS Omits De-Dollarization & New Currency at 2025 Summit
BRICS Member India Aims To Secure Trade Deals With the US
Trump followed on with his threats by slapping Brazil with 50% tariffs on Wednesday signaling that he’s serious. Also, the duties from Trump come just two-days after the BRICS 2025 summit where Brazil and India took center stage. Brazil’s President Lula da Silva lashed out at Trump for the tariffs saying that he “will not accept tutelage.”
“Trump is unhappy with some BRICS members (India) who have been talking about an alternate reserve currency,” said Mohan Kumar, an envoy at the World Trade Organization. “India has time and again differentiated between local currency trade and de-dollarization and therefore doesn’t fall in that category.” The Indian trade negotiators have put forward their best offer and now the Trump administration has to respond.
Also Read: No BRICS Currency Planned, Says Group’s Envoy
Vice President JD Vance also recently spoke highly of BRICS member India and appreciated its growing yet robust economy. The fate of the 21st Century “is going to be determined by the strength of the United States and India partnership,” he said, indicating that the two countries have to work together for the betterment of their economies.
Read More
Areas Where BRICS Challenges the USA and Areas Where It Falls Short