Trump’s Brics angst is of his own making

The actions of the US on the economic plane and as a unreliable security partner are forcing countries to look towards partnerships with groups such as Brics

The Brics grouping, which brings together several key emerging economies, has been the frequent target of the ire of US President Donald Trump, with his latest tirade against the bloc opening a new front in his economically ruinous tariff wars. With India set to assume the presidency of the 10-member grouping shortly, Trump repeated his claim that Brics is “an attack on the dollar” and threatened tariffs on all products from member States coming into the US if the bloc challenged the dollar’s preeminent position as a global currency.

The truth is Brics, which struggled for long to frame a cohesive agenda, has been gaining in salience because of the trade policies of the US, as countries seek alternative supply chains and markets to compensate for the impacts of American tariffs. (AFP)

The truth is Brics, which struggled for long to frame a cohesive agenda, has been gaining in salience because of the trade policies of the US, as countries seek alternative supply chains and markets to compensate for the impacts of American tariffs. With important economies such as Indonesia and the United Arab Emirates becoming full members of the grouping, and others such as Malaysia, Nigeria and Thailand becoming partner countries, the building blocks are in place to allow Brics to take on a more meaningful role in a multipolar world. India has maintained that it does not perceive Brics as a grouping intent on “de-dollarisation” but various member States now conduct a sizeable amount of trade settlement in national currencies.

The actions of the US, both on the economic plane and as a security partner that cannot be relied on, are forcing countries around the world to hedge and look towards partnerships with groupings such as Brics. India should focus on framing an agenda for its presidency of Brics that bolsters its position as an emerging power and as a reliable partner for nations of the Global South.