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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 Source: stimson.org Trump followed on with his threats by slapping Brazil with 50% tariffs on Wednesday signaling that...

The superiority of the US dollar is declining every year as BRICS and other developing countries are working towards uprooting it from the world’s reserve currency status. The latest data had shown that the US dollar’s reserves around the world had already fallen below the 60% mark. The Atlantic Council reported that the US dollar’s global reserves fell to 59% last year. Also Read: BRICS: 2 Countries Settle Oil Trade in New Currency, Discard US Dollar That’s a gradual decline since 2002 when the global reserves in central banks stood at 72%. The last 23 years saw the USD reserves falling by 13% and the decline could continue further. The decrease falls in line with the BRICS agenda of de-dollarization where the US dollar’s dominancy is getting punctured. Also Read: BRICS: When Barack Obama Predicted the US Dollar’s Future BRICS: Global Invoices in the US Dollar Falls to 50% Source: Bertrand Langlois/ AFP via Getty Images / CNBC Jane Foley, Rabobank’s...

The queue to join BRICS is getting longer as developing countries are expressing their interest in joining the alliance. Developing countries are now looking to end dependency on the US dollar to promote local currencies for trade. The move helps their native economies and businesses to thrive and pump up their national GDPs. Also Read: BRICS: 3 Countries Receive Invitation To Attend the 2024 Summit The majority of the developing countries are eager to join the BRICS alliance as they want to be a part of the de-dollarization initiative. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. The scenario could cause hyperinflation in the country if the US dollar returns to the homeland. BRICS Alliance: 46 Countries Express Interest To Join the Bloc Source: Alan Santos / PR / Wikipedia Commons A total of 47 countries have expressed their interest in joining the BRICS alliance before the 2024 summit. Among the 46 countries, only 26 nations hav...