Can BRICS counter Trump's tantrums?

As global tensions rise and multilateral institutions falter, BRICS - an alliance of major emerging economies - is facing renewed scrutiny. With the US under Donald Trump threatening more tariffs and accusing BRICS of being "anti-American", the grouping is being forced into a defining moment. Can BRICS offer a credible counterweight to unilateralism? Geneva-based journalist and global trade expert D Ravi Kanth weighs in on the stakes, the challenges, and what lies ahead.

Why is Donald Trump so angry with BRICS?

To understand Trump’s reaction, we need to place it in the context of the US's accelerating decline as a hegemonic power. This decline makes any form of collective South-South assertion appear threatening, particularly to entrenched monopolies like the dollar’s dominance in global trade.

Also Read: Trump says BRICS members, including India, will have to pay 10 pc tariff

BRICS, despite numerous challenges, represents a move toward multilateralism. It’s seen as a potential threat to American economic control, especially with talk of de-dollarisation and alternative trade systems. Trump's predecessors tried to undermine such groupings quietly, but Trump is brash and open about it. His proposed 10 per cent tariff on BRICS countries is not based on economic logic but on his belief that these nations unfairly benefit from trade with the US - even though historically, the US has been a primary beneficiary of the global trading system it helped establish.

Given the individual ties BRICS nations have with the US, can the group hold together and be effective?

That’s a complex question. Each BRICS member has a unique relationship with the US, and this does impact internal cohesion. China and the US are near-equals in trade terms, while India has grown closer to the US and often aligns with its policies, sometimes at the expense of BRICS unity.

For instance, India has been reluctant to move away from dollar-denominated payments, even as other BRICS members push for local currency settlements. Indian officials, including the Foreign Minister and the RBI Governor, have made it clear that the country will stick with the dollar system for now. That stance has hindered progress on new payment mechanisms within BRICS.

Also Read: India's BRICS presidency next year will have 'humanity first' approach: PM Modi

There are internal contradictions. Some members may even act as spoilers behind the scenes. China’s dominance - economic and political - is another sensitive point. Still, these issues could be addressed pragmatically, provided no member tries to completely derail the group's broader goals.

Is it even feasible for BRICS to move away from using the dollar in trade?

They aren’t proposing a new common currency just yet. The idea is to settle trade among BRICS countries using local currencies, which would reduce dependence on the dollar. This shift could benefit sanctioned nations like Russia and reduce vulnerabilities from US-led economic warfare, like the asset freezes imposed after the Ukraine conflict.

Also Read: Timeline of India-US mini-trade deal: Trump, Modi and 3 months of talks

Yes, China’s yuan would naturally gain more influence, which some members might find unpalatable. But with the dollar’s credibility weakened - particularly under Trump’s economic nationalism - there’s growing momentum to create alternatives. These efforts take time, and any meaningful shift will likely unfold slowly. But it's not only possible - it’s probable in the long term.

Has BRICS had any notable achievements in global trade or politics so far?

While it's still early to tally definitive achievements, there are clear gains. South-South trade has grown significantly, and China's Belt and Road Initiative - though not a BRICS project per se - has helped many developing nations build physical infrastructure. These developments align with BRICS’ broader agenda of increasing cooperation among emerging economies.

Also Read: China responds to Trump's tariff threat on BRICS nations

BRICS’ value also lies in the space it provides for dialogue. Even without binding treaties, the group has encouraged strategic thinking and collaboration among its members on various global platforms.

From your vantage point in Geneva, where does BRICS stand in today's fractured world order?

Within forums like the WTO, BRICS countries often meet to coordinate positions. They don’t always reach consensus, but their presence influences how other developing nations approach negotiations. That said, when each member faces unique domestic pressures and external threats - like extortive tariffs - it becomes harder to act collectively.

Still, as the crisis deepens and the US loses its grip, BRICS may become a more unified force. That turning point hasn’t come yet, but the seeds are there.

Also Read: BRICS powerful force for economic cooperation, global good: PM Modi

India is set to assume the BRICS presidency next year. What can we expect?

I would be cautious in expecting much. During India’s G20 presidency, most of the outcomes were about optics - headlines and branding, not substantive change. One initiative linked Indian trade with Israel and the West, bypassing the BRICS framework entirely.

There’s also a disturbing geopolitical undertone. Some reports suggest that India’s trade initiatives could indirectly support Israel’s controversial actions in Palestine. At the recent BRICS summit, while Brazilian President Lula spoke strongly in favour of strengthening BRICS against unilateralism, Prime Minister Modi didn’t even mention BRICS in his remarks.

So while the Indian government will likely use the presidency for publicity, I remain skeptical about any major breakthroughs or initiatives emerging from it.

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