Leaders of the BRICS coalition will gather in New Delhi this Saturday for their annual summit, a meeting that comes as the bloc expands and the United States, under President Trump, voices strong opposition to its growing influence.
What BRICS Is and How It Has Grown
The term BRIC was first coined by Goldman Sachs chief economist Jim O’Neill in 2001 to flag the growth potential of Brazil, Russia, India and China. The four nations formally organized as a bloc in 2009, and South Africa joined in 2011, creating today’s BRICS. In 2024 the group welcomed Egypt, Ethiopia, Iran and the United Arab Emirates, and Indonesia became a member in 2025. Saudi Arabia has been invited but has not yet accepted.
Why the Bloc Was Formed
BRICS was established to offer a counterweight to a world order dominated by the United States and its Western allies. Its members now represent more than 40% of the global population and roughly a quarter of the world’s economy. The group focuses on political and security cooperation, economic and financial collaboration, and people‑to‑people exchanges, according to the BRICS website created by India during its current presidency.
Key Achievements
The most visible success is the New Development Bank, launched in 2015 to fund infrastructure and sustainable‑development projects in emerging markets. The bank reports having approved 139 projects worth nearly $43 billion, though it has paused new transactions in Russia because of sanctions. BRICS is also building a BRICS Pay System to link members’ fast‑payment networks for cross‑border settlements that do not rely on dollar‑based banks. Discussions are under way to link central‑bank digital currencies and to settle more trade in national currencies, further reducing dependence on the U.S. dollar.
Challenges Facing the Bloc
Internal disagreements are already testing BRICS cohesion. Russia and China view the group as a strategic counterweight to the West, while India and Brazil emphasize economic reform and development. The 2024 expansion added members with divergent foreign‑policy priorities, complicating consensus‑building. This week India will try to craft a joint statement that bridges the gap between Tehran and Washington‑ally Abu Dhabi, a divide that previously blocked a joint communiqué at the foreign‑ministers’ meeting in May.
U.S. Perspective
Washington remains wary. President Trump has repeatedly described BRICS as “anti‑American” and warned that any attempt to create a new BRICS currency or replace the U.S. dollar could trigger steep tariffs on member nations. He argues that protecting American economic sovereignty is essential as other countries explore alternatives to the dollar‑based system.
What This Means for Americans
While the summit is a distant diplomatic event, its outcomes could affect global trade flows, commodity prices and the stability of the international financial system—issues that ultimately impact American consumers and businesses. President Trump’s firm stance signals that the United States will continue to defend its economic interests against coordinated challenges.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
