New Delhi, 23 January 2025 – China reaffirmed that BRICS seeks inclusivity and cooperative development, distancing itself from bloc confrontation, days after Donald Trump threatened 100% tariffs if the group’s member nations moved to reduce reliance on the US dollar.
A spokesperson for China’s Ministry of Foreign Affairs stated Thursday, “BRICS advocates openness, inclusiveness, and win-win cooperation. It is not aimed at confronting any bloc or targeting third parties. The platform aims to achieve common development and prosperity.”
China further expressed its commitment to collaborate with BRICS members to strengthen partnerships and contribute to global economic stability.
The clarification followed Trump’s comments on January 20, where he warned that Brazil, Russia, India, China, and South Africa would face steep tariffs for any efforts to limit the dollar’s role in trade.
“They’ll have a 100% tariff if they even think about cutting dollar usage,” he said.
India responded earlier, clarifying its stance on the dollar. External Affairs Minister S. Jaishankar stated last year at the Doha Forum, “The US is our largest trade partner. We have no interest in weakening the dollar at all. India has never supported de-dollarisation.”
Jaishankar further added that there was no active proposal for a BRICS currency.
BRICS, established in 2011, is a coalition of Brazil, Russia, India, China, and South Africa, with Egypt, Iran, the UAE, Saudi Arabia, and Ethiopia joining this year.
The group, a counterpart to the G7, focuses on political, security, economic, and cultural cooperation, aiming to promote development among emerging markets. Its member nations have been key contributors to global economic growth.
BRICS is an intergovernmental organization comprising Brazil, Russia, India, China, and South Africa. It was originally established in 2009 (as BRIC) to foster cooperation among emerging markets and later expanded to include South Africa in 2011. Recently, on January 1, 2024, new members — Egypt, Iran, the UAE, Saudi Arabia, and Ethiopia — joined the bloc.
