A photograph of Prime Minister Narendra Modi shaking hands with Iranian President Masoud Pezeshkian, alongside Russian President Vladimir Putin at the BRICS summit, brought together three countries whose relations with Washington range from strategic rivalry to open confrontation.
Trump's Pressure on BRICS
US President Donald Trump has repeatedly warned BRICS nations against challenging the dominance of the US dollar. This places the group's push for broader use of local currencies at the center of tension with Washington. In November 2024, Trump threatened to impose 100% tariffs on BRICS countries if they supported another currency as a replacement for the dollar.
For India, the BRICS summit takes place at a sensitive moment in its economic relations with the United States. A trade deal between India and the US is 'more or less' finalized, and both sides are working on creating frameworks for preferential market access before signing the document at an appropriate time. Nevertheless, there remain issues that are still under discussion.