- India,
- 22-Jun-2025 09:23 AM IST
US Tariff Policy: While the war between Iran and Israel is not stopping, on the other hand, the sound of a new economic war is being heard on the global stage. This time the battle will not be fought with guns or missiles, but with the weapons of tariff, currency and dominance. Now five powerful countries have openly come out in the field against the tariff policy of America. These five countries are members of the BRICS group - Brazil, Russia, India, China and South Africa.Front against America's tariffThese countries have prepared a joint strategy against American tariff policies. Even before the summit of BRICS leaders to be held in Rio de Janeiro in July, the diplomats of the group have indicated that now they will take steps towards reducing dependence on the US dollar in trade. Their goal is - more use of national currencies in mutual trade and challenging America's 'dollar diplomacy'.Russian Ambassador Denis Alipov announced strong support for trade in national currencies between BRICS countries. He said, "BRICS is not an anti-group organization, but it is a platform for countries that believe in sovereignty, respect and non-interference."Slow progress on BRICS currencyHowever, no quick decision is likely to come on the common currency of BRICS. Structural changes and comprehensive reforms will be needed in this direction. US President Donald Trump has already warned BRICS that if they try to replace the dollar with their own currency, it will have serious consequences.Rio Summit: Step towards change in global orderThe conference, jointly organized by the Embassy of Brazil in India and the Center for Global India Insights (CGII), discussed the topic "BRICS: Building an inclusive and sustainable world order". It gave clear indications that the BRICS countries now not only want to challenge the economic policies of America, but are also laying the foundation of a new multipolar world order.Who are these five countries?
- Brazil: As this year's BRICS chair, it is hosting the Rio summit.
- Russia: The most vocal voice to end dollar dominance.
- India: Becoming the voice of the Global South with a balanced strategy.
- China: Ready to weaken US influence.
- South Africa: An important member to strengthen BRICS' hold in Africa.