Experts and officials across the world have since rejected Trump’s claim as baseless, pointing out that the grouping continues to gain strength and global relevance.
President Donald Trump outlined tariffs on BRICS nations, calling the bloc “against the dollar” and warning of 100% tariffs if they pursued de-dollarisation, amid India’s push to uphold multilateral trade rules.
Bhutan’s Prime Minister Tshering Tobgay made a direct appeal for change, describing India and Japan as “deserving nations” for permanent membership.
Jaishankar emphasised the need for the bloc to reinforce principles of peacebuilding, dialogue, diplomacy, and adherence to international law in a turbulent global environment.
Brazil is the current chair of the BRICS. The 10-member grouping also includes India, China, Russia, South Africa, Indonesia, Iran and the United Arab Emirates.
The BRICS summit will follow a crucial meeting between China’s President Xi Jinping and PM Modi in Tianjin over the weekend
India is preparing to take over the leadership of BRICS from the current president, Brazil.
From Europe to Asia, governments accuse Trump of using tariffs as a political weapon. His targets aren’t just rivals like China or Russia, but even long-time allies are getting hit.
In trying to undercut the bloc he sees as a threat to US dominance, Trump may be doing exactly what BRICS’ founders once dreamed of -- forging it into a coherent, coordinated force against American trade pressure.
US tariffs on Indian exports are set to rise, influenced by geopolitical issues like India’s ties with Russia and BRICS. Negotiations for a trade deal remain complex, requiring careful diplomacy from India
Trump on Wednesday announced that the US would impose a 25 percent tariff on all goods coming from India starting August 1, plus an unspecified penalty for buying Russian crude oil and military equipment.
Intra-BRICS investments and trade have increased faster over the last decade, with more emphasis on local currency agreements.
US President Donald Trump on Tuesday said that the tariff letters issued by him themselves meant trade deal with the countries.
Trump said that the US will impose an additional 10% tariff on any countries aligning themselves with so-called 'anti-American policies' of the BRICS
The BRICS group now accounts for approximately a quarter of global trade and investment flows.
US-Brazil relations slid into crisis after Trump criticised the high-profile coup trial of right-wing ally, ex-president Jair Bolsonaro.
On Sunday, BRICS leaders described Trump's stop-start tariff wars as "indiscriminate," damaging, and illegal, drawing a late-night rebuke from the pugilistic US president.
The minister was speaking at the BRICS Finance Ministers and Central Bank Governors (FMCBG) meeting held in Rio de Janeiro, Brazil.
PM Modi's comments on critical minerals came amid concerns over China restrictions on the export of the vital resources as well as its non-transparent policy approach in the sector
BRICS has severely criticised the tariff policy of the Trump administration. But this group, which represents 40% of global economic output, is not strong enough to bring about major changes in world affairs. An important reason is its internal differences
Brazil’s Luiz Inacio Lula da Silva, hosting the two-day meeting of BRICS countries, took center stage, flanked by South Africa’s Cyril Ramaphosa and PM Modi on either side
The BRICS leaders unveiled the "Rio de Janeiro Declaration" that featured the bloc's position on a number of pressing global challenges, including the threat of terrorism
PM Modi told BRICS leaders that India is a victim of terror, while Pakistan is a supporter, and victims and supporters cannot be weighed on the same scale.
PM Modi said: "The Global South has often been a victim of double standards. Whether it is about development, distribution of resources, or security-related issues, the interests of the Global South have not been given priority."
The BRICS summit 2025 will be held without the presence of the two big bloc leaders. Chinese President Xi Jinping and Russian leader Vladimir Putin will not attend the meeting this year. However, the annual summit has a packed agenda.