India is trying to shield itself from President Donald Trump’s backlash against BRICS by stressing it has no plans to challenge the US dollar’s global dominance, according to people familiar with the matter.
The US leader has labeled the BRICS group of developing nations “anti-American” and accused it of trying to undermine the dollar’s role as the world’s key currency. He has repeatedly warned of a 10% tariff on all 10 BRICS members, including India — even as he says a trade deal with New Delhi is near.
The move has sparked a diplomatic storm, with Brazil summoning the US ambassador over claims of “political persecution.” Lula also rejected Trump’s trade deficit claims and urged respect for Brazil’s judicial independence.
