The TOI correspondent from Washington: Pushing back against the protectionist wall being erected by MAGA-infused United States, India has called on BRICS nations to defend the multilateral trading system and adherence to international law , risking blowback from a US President who has been openly hostile to the non-western economic alliance.
Hosting a meeting of foreign ministers of BRICS – including Brazil, Russia, China, and South Africa – on the sidelines of the UN General Assembly on Friday, external affairs minister S Jaishankar did not directly name the US but the implicit reference was unmistakable.
“As rising protectionism, tariff volatility and non-tariff barriers impact trade flows, BRICS must defend the multilateral trading system,” he said in a post underscoring key points from a meeting he hosted, adding that “In a turbulent world, BRICS must reinforce the message of peacebuilding, dialogue, diplomacy and adherence to international law.”
He also said that under India’s chairship, which he took over, BRICS will focus on food and energy security, climate change, and sustainable development.
The US president has in recent months, not only expressed deep suspicion of BRICS agenda and wants it dismantled, he has also reneged on Washington’s global commitments and blown international law out of the water, including attacks on boats in South America and Caribbean, he says were carrying drugs.
He has also mocked climate change, even though millions of people across the world, including in the US, have suffered its effects, and disparaged the UN and other international organisations, while also periodically dissing EU and NATO.
Meanwhile, from the original four BRIC nations, the formation now has ten full members – Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, UAE and Indonesia. Ten other countries are partner states: Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Nigeria, Uganda, Uzbekistan, and Vietnam. Ten more countries have officially applied for membership: Azerbaijan, Bahrain, Bangladesh, Kuwait, Pakistan, Palestine, Senegal, Sri Lanka, Syria, and Zimbabwe. A dozen more have expressed interest in joining.
The expansion has spooked Trumpian America. The MAGA boss has himself portrayed it as a threat to US economic primacy, particularly to the dollar's role as the world's reserve currency, while maintaining the formation was "set up to hurt us" and "degenerate our dollar."
Despite New Delhi clarifying it was not in favor of de-dollarisation, Trump warned of a 100 percent tariff if BRICS went down that road. "The idea that the BRICS countries are trying to move away from the Dollar while we stand by and watch is over. We require a commitment from these countries that they will neither create a new BRICS currency, nor back any other currency to replace the mighty US Dollar or, they will face 100% tariffs, and should expect to say goodbye to selling into the wonderful US economy. They can go find another 'sucker!' “ he said in a Truth Social post soon after he won the 2024 election.
Separately on the sidelines of the UNGA, FM Jaishankar also hosted a meeting of IBSA (India, Brazil, and South Africa) ministers which made a strong call for the transformative reform of the UNSC, and discussed maritime exercise, Trust Fund and intra-IBSA trade, among other matters He also met Russia’s foreign minister Sergei Lavrov, among a host of counterparts from other countries.
Hosting a meeting of foreign ministers of BRICS – including Brazil, Russia, China, and South Africa – on the sidelines of the UN General Assembly on Friday, external affairs minister S Jaishankar did not directly name the US but the implicit reference was unmistakable.
“As rising protectionism, tariff volatility and non-tariff barriers impact trade flows, BRICS must defend the multilateral trading system,” he said in a post underscoring key points from a meeting he hosted, adding that “In a turbulent world, BRICS must reinforce the message of peacebuilding, dialogue, diplomacy and adherence to international law.”
He also said that under India’s chairship, which he took over, BRICS will focus on food and energy security, climate change, and sustainable development.
The US president has in recent months, not only expressed deep suspicion of BRICS agenda and wants it dismantled, he has also reneged on Washington’s global commitments and blown international law out of the water, including attacks on boats in South America and Caribbean, he says were carrying drugs.
He has also mocked climate change, even though millions of people across the world, including in the US, have suffered its effects, and disparaged the UN and other international organisations, while also periodically dissing EU and NATO.
Meanwhile, from the original four BRIC nations, the formation now has ten full members – Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, UAE and Indonesia. Ten other countries are partner states: Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Nigeria, Uganda, Uzbekistan, and Vietnam. Ten more countries have officially applied for membership: Azerbaijan, Bahrain, Bangladesh, Kuwait, Pakistan, Palestine, Senegal, Sri Lanka, Syria, and Zimbabwe. A dozen more have expressed interest in joining.
The expansion has spooked Trumpian America. The MAGA boss has himself portrayed it as a threat to US economic primacy, particularly to the dollar's role as the world's reserve currency, while maintaining the formation was "set up to hurt us" and "degenerate our dollar."
Despite New Delhi clarifying it was not in favor of de-dollarisation, Trump warned of a 100 percent tariff if BRICS went down that road. "The idea that the BRICS countries are trying to move away from the Dollar while we stand by and watch is over. We require a commitment from these countries that they will neither create a new BRICS currency, nor back any other currency to replace the mighty US Dollar or, they will face 100% tariffs, and should expect to say goodbye to selling into the wonderful US economy. They can go find another 'sucker!' “ he said in a Truth Social post soon after he won the 2024 election.
Separately on the sidelines of the UNGA, FM Jaishankar also hosted a meeting of IBSA (India, Brazil, and South Africa) ministers which made a strong call for the transformative reform of the UNSC, and discussed maritime exercise, Trust Fund and intra-IBSA trade, among other matters He also met Russia’s foreign minister Sergei Lavrov, among a host of counterparts from other countries.
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