BRICS Foreign Ministers Meet to Discuss Common Defense Strategy Against US Tariffs
Yesterday, the foreign ministers of the BRICS countries (Brazil, Russia, India, China, and South Africa) gathered to discuss a common defense strategy to protect the global trading system from the tariffs imposed by US President Donald Trump.
However, the most significant point to note is that there is another common thread: the centrality of the US dollar for BRICS countries is not contested. In fact, it is reaffirmed. Brazil had already abandoned the pursuit of a single currency in February 2025, but it is open to reducing its dependence on the dollar in global trade. This is a wise strategy, given that not all countries are seeking to escalate tensions, but rather to criticize the current approach of the White House.
The BRICS countries, as a whole, are under fire from Donald Trump, who has threatened to impose additional 100% tariffs if the bloc moves forward with a single currency to replace the dollar in trade relations.
Climate Change Financing Also on the Agenda
As the host country of this meeting, Brazil is preparing to host the United Nations climate summit in November. It took advantage of the presence of BRICS foreign ministers to discuss a common position on financing the fight against climate change. Notably, China is expected to make a significant financial effort, although it believes that the obligation to finance climate change mitigation and energy transition in developing countries lies with rich countries. Let's not forget that Beijing still considers itself a developing country.
