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India is rethinking its ties with the US and coddling up to China after Trump imposed 50% tariffs on trade. Many countries are scrambling for an answer on how to prioritize their economies and bow under pressure, bowing to Trump. Economist Jeffrey Sachs, a public policy analyst and professor at Columbia University, lent a word of caution to India, asking it to work closely with BRICS and not rely on the US. “Don’t trust America,” he said, during an interview with Business Today. Sachs explained that Trump made a mistake imposing 50% tariffs on India despite the country being a close ally. He stressed that India had gone out of its way to embrace the US dollar and rallied against the BRICS de-dollarization ideology despite being a member. Allies must not be treated this way, explained Sachs, highlighting Trump’s mismanagement. “Trump is not a very logical person and not a very strategic person, and so he does things impulsively,” he said. Also Read: ...

BRICS member China is leaving no stone unturned and is selling US dollar-denominated bonds and Treasuries on a larger scale. China has sold nearly $8.2 billion worth of Treasuries in April 2025, according to the latest data released by the the US Treasury Department. The sell-off comes after Trump imposed sweeping tariffs on many countries in early April on Liberation Day. Also Read: China Grants 53 Countries Tariff-Free BRICS Market Access In a BRICS counter-attack measure, China sold the US dollar-denominated bonds and Treasuries trimming their holdings in American assets. The Communist country is cutting ties with America-funneled assets and accumulating gold in its central bank reserves instead. Apart from gold, they are also diversifying reserves with other leading local currencies to end dependency on the US dollar. BRICS: China Cutting Ties With US Dollar Treasuries, Bonds Source: scmp.com Data shows that BRICS member China held $1,350 billion worth of US dollar Treasuries and b...

Taking a leaf straight from the BRICS playbook, Tanzania announced an official ban on the US dollar in local transactions. The Bank of Tanzania (BoT) has put a blanket ban on all foreign currencies in local transactions, and only the Tanzanian Shillings (TZS) is made legal tender. The ban comes after an influx of foreign currencies circulated the market for local transactions, leaving the TZS behind. Also Read: BRICS: Only 33% of Trade Settled in US Dollars Tanzania is inspired by the BRICS agenda of de-dollarization and is striving to keep the US dollar in the back seat. Individuals, traders, business owners, and large corporations in the country are not allowed to use the US dollar for transactions. The ban includes both receiving and sending foreign currencies, making it a legal offense to initiate the payments. Every individual, bank, and business entity must use the Tanzanian Shillings and not foreign currencies. “Under these Regulations, pricing and payment for all goods and...

The US dollar is the most important currency in the markets that controls and dominates the world’s financial sector. Almost all cross-border transactions, trade settlements, and foreign exchange conversions are conducted using the USD. Local currencies are far behind with little to no chance of becoming the global reserve currency. This gives the White House the power to weaponize the currency and control the world’s trade and finances. BRICS has decided to put an end to the US dollar domination by giving local currencies a chance to compete against the greenback. Also Read: BRICS: US Dollar Is Now an Unreliable Currency, Say Analysts Here’s What Will Happen If BRICS Ends US Dollar Reliance Source: realmoney.thestreet.com The BRICS alliance is scheming to replace the US dollar with either a new currency or their local currencies. The bloc is divided in the prospects but is united to achieve the goal by hook or crook. They also confirmed that despite slow progress, the...

Although we are just two months into the year, geopolitical tension has reached a fever pitch. With the United States adopting an aggressive economic policy, a host of nations are concerned over a brewing trade war. However, it could work out in their favor, as BRICS may be in trouble with experts projecting a potential tariff-driven US dollar surge. Under the direction of US President Donald Trump, the nation is enacting a host of tariffs through new policy. Indeed, it is not only BRICS, as Mexico and Canada have suffered from the new administration’s effort to balance trade. In turn, it could have a positive effect on the US dollar. Source: NY Post Also Read: BRICS: 3 Nations Invited to 2025 Summit Amid Potential Expansion BRICS and Global Market Could See US Dollar Enjoy Tariff-Driven Surge Since his return to the White House, Donald Trump has sought to do away with decorum and delicacy. In an effort to balance the nation’s international standing, Trump had adopted increa...

The ongoing tensions between the United States and the BRICS alliance have reached a fever pitch. With the world concerned about a burgeoning trade war, both sides seem no closer to any sort of resolution. However, a recent statement confirmed that the BRICS currency plan is officially no ore, but will US President Donald Trump lift his proposed tariffs? During his campaign for re-election, Trump originally warned tariffs to dissuade the nation from embracing de-dollarization. He targeted the BRICS bloc specifically because they had so blatantly embraced the native currency settlement of their trade. Yet, with them confirming they are no longer a threat to the world’s currency, will Trump relent? Source: Freepik.com Also Read: BRICS: Trump Tariff to Trigger Economic Crisis and Diplomatic Disputes? BRICS Currency Plan Confirmed to be Done, but Will Trump No Longer Target Alliance? Donald Trump once said that the US dollar ceasing to be the world’s global reserve currency woul...

Despite the ongoing efforts to decrease global dependency on the BRICS alliance, the US dollar has continued to thrive, reaching a 2-year high amid ongoing de-dollarization efforts. Indeed, the Western currency has seen Treasury yields rise to their highest mark since the latter months of 2023, according to a Financial Times report. 2024 ended with the US economy headed straight toward the Federal Reserve’s 2% target. Moreover, it has become one of the most impressive recoveries from its 40-year high inflation mark it reached post-pandemic. What’s even more impressive is that the growth has taken place amid the ongoing calls to end the dominance of the greenback on a global scale. Source: Freepik.com Also Read: BRICS Fail to Challenge US Dollar in 2024: Can They This Year? BRICS Don’t Stand a Chance to Surging Dollar as Pivotal 2025 Comes Into View With the arrival of Western sanctions in 2022, the BRICS economic alliance has sought to challenge the global status quo. ...

BRICS is challenging the dominance of the US dollar by spreading the de-dollarization agenda across the globe. The bloc is pushing local currencies for trade and convincing other developing countries to sideline the US dollar. Using local currencies will strengthen their native economies and give them a boost in the forex markets. Amid the BRICS de-dollarization initiative, leading investment bank Morgan Stanley has predicted the future of the US dollar. Also Read: BRICS: Demand For the US Dollar Rises in Foreign Banks Read here to know the sectors in the US that will be affected if BRICS ditches the dollar for trade. The move will make the US dollar lose out on the global supply and demand dynamics and push it into the path of decline. If the US fails to import the dollar, inflation could hit the homeland leading to higher prices for basic necessities. Also Read: BRICS Countries Gain Influence Over G20 BRICS: Morgan Stanley Reveals How the US Dollar Will Survive the Challenges Source:...

The BRICS alliance is advancing the de-dollarization agenda by using local currencies and rejecting the US dollar for trade. Russian President Vladimir Putin announced that 85% of trade within the Commonwealth of Independent States (CIS) is successfully settled in local currencies. The development gives higher financial independence for developing countries to reduce dependency on other Western foreign currencies. Also Read: Goldman Sachs Predicts the Future of BRICS Currency The CIS consists of 12 countries – Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan. The only BRICS member in the CIS bloc is Russia and the country is pushing de-dollarization to its neighboring nations. The BRICS member is making more developing countries pay local currencies for trade and is sidelining the US dollar. Also Read: 3 US Sectors To Be Affected If BRICS Ditches the Dollar For Trade BRICS: 12 Countries Pay 85% Trade ...

US Treasury Secretary Janet Yellen confirmed that sanctions led to BRICS kick-start the global de-dollarization initiatives. The US pressed sanctions on Russia in February 2022 for invading and waging war against its neighboring country Ukraine. Since then, BRICS has been using all methods to cut ties with the US dollar and use local currencies like the Chinese yuan for trade settlements. Also Read: BRICS : US Dollars in Hard Cash Worth Millions Flown to Zimbabwe BRICS weaponized development by convincing developing countries that their economies could collapse if the US pressed sanctions on them. Developing countries and BRICS members began using the Chinese yuan for trade with China and not the US dollar. Russia wholeheartedly accepted the Chinese yuan for oil payments making it the most used currency for trade in two years. Also Read: BRICS : Iraq Sides With US, Halts All Chinese Yuan Transactions BRICS: Sanctions Are Hurting the US Dollar & Helping the Chinese Yuan Source:...

The BRICS alliance could induct 10 new countries into the alliance during the upcoming summit in October 2024. The 16th BRICS summit is scheduled to be held in the Kazan region of Russia between October 22 to 24, 2024. Russia has proposed the idea of adding 10 new ‘partner countries’ that would add a strong value proposition to the bloc. Also Read: BRICS : Saudi Arabia Makes Massive Oil and Gas Discovery The modalities of the engagement of partner countries are yet to be finalized with a set of rules and regulations. The idea could be shared with BRICS members during the 16th summit in October. Russia wants to add more countries to push them to use local currencies and not the US dollar. Read here to know how many sectors in the US will be impacted if BRICS ditches the dollar for trade. Also Read: BRICS : JP Morgan Predicts Huge US Stock Market Crash BRICS: Russia Wants To Add 10 New ‘Partner Countries’ in 2024 Source: Valery Sharifulin (TASS) Russia plans...

BRICS members China and Iran are sticking through thick and thin after the Islamic Republic launched missile attacks on Israel. China came out in full support of Iran and is strengthening its diplomatic relations with the Islamic nation. Not just China, BRICS member Russia is also hailing Iran and supporting the regime after the drone attacks on Saturday. Also Read: BRICS Supports Cryptocurrency for Global Trade, Not US Dollar JUST IN: China says diplomatic relations with Iran remain strong following attack on Israel. "China is ready to steadily advance practical cooperation in various fields with Iran and promote greater development of China-Iran relations." pic.twitter.com/zMUo1BfBO8 — BRICS News (@BRICSinfo) April 16, 2024 China is the largest buyer of Iranian oil and the US had warned the Communist nation not to procure crude oil due to the economic sanctions on the Islamic Republic. However, BRICS member China has now vowed to continue buying cr...

The number of countries expressing their interest in joining the BRICS alliance is growing exponentially in 2024. This year alone, three new countries have formally submitted their application to join the bloc and be a part of the grouping. The alliance will decide on the induction of new countries in the next summit in October and will be a joint consensus. The upcoming 16th summit will be held at the Kazan region of Russia where BRICS will decide about another round of expansion. Also Read: US Reacts to Middle East Countries Joining BRICS BRICS: 3 New Countries Ready To Join the Alliance Source: securityaffairs.com Since the beginning of 2024, three new countries have officially expressed their interest in joining the BRICS grouping. The three new countries that have expressed their interest and formally submitted their application to join BRICS this year are: Zimbabwe Cameroon Pakistan Also Read: BRICS : China & Russia Announce Major Partnership All th...