[News] As Trump threatens BRICS, it grows stronger, resisting US dollar and Western imperialism

[Anti-Imperialist News]

 As Trump threatens BRICS, it grows stronger, resisting US dollar and
Western imperialism

Donald Trump threatened tariffs on BRICS, claiming the group is “dead”, but
it is growing. 10 members and 10 partners participated in a summit in
Brazil, discussing dedollarization, decolonization, trade and investment in
local currencies, and how to create a more multipolar global order.

By Ben Norton <https://geopoliticaleconomy.com/author/ben-norton/>

July 10, 2025 -
https://geopoliticaleconomy.com/2025/07/10/trump-threat-brics-us-dollar-western-imperialism/
[image: BRICS summit 2025 Trump threats]

The Global South-led organization BRICS has been growing in size and
influence, and this has frightened some Western politicians.

Donald Trump is particularly rattled. After he returned to the White House
for his second term as US president, Trump threatened very high tariffs on
BRICS, and falsely said he had destroyed the organization.

“BRICS is dead”, Trump claimed
<https://fortune.com/asia/2025/02/14/trump-threatens-brics-tariffs-challenge-us-dollar/>
in a press conference on 13 February. The US president stated:

BRICS was put there for a bad purpose, and most of those people don’t want
— they don’t even want to talk about it now; they’re afraid to talk about
it.

Because I told them, if they want to play games with the dollar, then
they’re going to be hit with a 100% tariff, the day they mention that they
want to do it. And they will come back and say, “We beg you, we beg you not
to do this”.

BRICS is dead, since I mentioned that. BRICS died the minute I mentioned
that.

And I know, I remember when Obama and Biden in particular, I guess he said
that, “Oh, they have us over a barrel”. They don’t have us over a barrel;
we have them over a barrel.

If BRICS wants to play games, those countries won’t trade with us; we won’t
trade with them. And if any trading gets through, it’ll be a 100% tariff,
at least.

Trump’s claim that “BRICS is dead” could not be further from the truth. The
exact opposite is happening: BRICS is continuously expanding.
Participants in the 2025 BRICS summit in Brazil
2025 BRICS summit in Río de Janeiro, Brazil

In July, representatives of BRICS countries gathered in Brazil for an
annual summit. This was the first meeting that featured the 10 partner
countries that were added to BRICS in 2025, in addition to the new members
that were admitted in 2024.
[image: Representatives of the 10 BRICS members at the 2025 summit in
Brazil]

Representatives of the 10 BRICS members at the 2025 summit in Brazil

BRICS now consists of 20 countries.

The 10 BRICS members are the founding five — Brazil, Russia, India, China,
and South Africa — plus Egypt, Ethiopia, Indonesia, Iran, and the United
Arab Emirates.

The 10 BRICS partners are Belarus, Bolivia, Cuba, Kazakhstan, Malaysia,
Nigeria, Thailand, Uganda, Uzbekistan, and Vietnam.

[image: BRICS 20 members partners map July 2025]

The 2025 BRICS summit in Río de Janeiro
<https://brics.br/en/news/brics-summit-signs-historic-commitment-in-rio-for-more-inclusive-and-sustainable-governance>
was historic, because it included for the first time the participation of
Vietnam
<https://en.vietnamplus.vn/expanded-brics-summit-2025-vietnam-attends-for-first-time-as-partner-country-post322240.vnp>,
which had been admitted to the group
<https://brics.br/en/news/vietnam-joins-brics-as-a-partner-country> in June.

Geopolitical Economy Report previously detailed how the US government has
tried to divide China and Vietnam
<https://geopoliticaleconomy.com/2025/07/04/brics-expansion-population-gdp-vietnam/>,
in an unsuccessful attempt to recruit Hanoi for Washington’s Cold War Two
against Beijing.

Vietnam’s decision to join BRICS was a clear sign that its foreign policy
remains independent and non-aligned.
Vietnam’s Prime Minister Pham Minh Chinh with Brazil’s President Lula da
Silva at the 2025 BRICS summit

Moreover, on the sidelines of the BRICS summit in Brazil, Reuters reported
that Vietnam’s Prime Minister Pham Minh Chinh and China’s Premier Li Qiang
held a friendly meeting, and “agreed to boost trade
<https://www.reuters.com/markets/asia/vietnam-china-agree-boost-trade-ties-trump-tariffs-hit-2025-07-08/>
and investment ties”.

The 2025 BRICS summit also featured the participation of Cuba’s President
Miguel Díaz-Canel.
Cuba’s President Miguel Díaz-Canel at the 2025 BRICS summit in Brazil

This was symbolic, given that Cuba has suffered under illegal US sanctions
and a devastating blockade for more than 60 years, despite the fact that,
every year the United Nations General Assembly, nearly every country on
Earth votes to demand an end to the criminal US embargo.

[image: Cuba blockade UN vote 2024 map]

The vision that BRICS has for a more multipolar world, where the Global
South is equal and the colonialist nations of the Global North no longer
have an unfair “exorbitant privilege”, is very attractive to most countries
on Earth.

Even the United States’ top trading partner and southern neighbor, Mexico,
participated in the BRICS summit
<https://www.gob.mx/sre/articulos/secretary-de-la-fuente-arrives-in-rio-de-janeiro-for-brics-summit-on-behalf-of-president-sheinbaum-402359>
in Río de Janeiro.

Mexico’s progressive President Claudia Sheinbaum sent Foreign Secretary
Juan Ramón de la Fuente to Brazil to participate, even though Mexico is not
officially a member or partner of BRICS.

The Mexican government announced that it had been invited to serve as an
“observer” by Brazil, which holds the annual rotating BRICS presidency for
2025.
Trump threatens more tariffs on BRICS countries

The US president clearly was unsettled by the BRICS summit held in Brazil
on 6 July, because on that day he took to his website Truth Social to
threaten <https://truthsocial.com/@realDonaldTrump/posts/114809574296066307>
the organization.

“Any Country aligning themselves with the Anti-American policies of BRICS,
will be charged an ADDITIONAL 10% Tariff”, Trump wrote.

“There will be no exceptions to this policy”, he added.

[image: Trump threat tariffs BRICS Truth Social post July 2025]

This 10% tariff threat was a significant reduction of the 100% duty that
Trump had originally vowed to impose on BRICS countries.

Brazil’s President Lula da Silva shot back at Trump’s threats, implying
that the US president was trying to become a global “emperor”.

“The world has changed. We don’t want an emperor”, Lula said
<https://www.reuters.com/world/china/brics-nations-resist-anti-american-label-after-trump-tariff-threat-2025-07-07/>
.

“This is a set of countries that wants to find another way of organizing
the world from the economic perspective”, Lula added. “I think that’s why
the BRICS are making people uncomfortable”.
Trump falsely claimed that Spain is part of BRICS

Nevertheless, it should be underscored that Trump doesn’t really understand
what BRICS is.

In a White House press conference in January, Trump again threatened BRICS,
and he falsely claimed that Spain is part
<https://apnews.com/article/trump-spain-brics-nato-tariffs-defense-spending-9871cf04825c92e073865ca8bede4077>
of the Global South-led organization. The European nation is not involved,
and never has been.

Trump said:

They’re a BRICS nation, Spain. You know what a BRICS nation is? You’ll
figure it out. But — and if the BRICS nations want to do that, that’s okay,
but we’re going to put at least a 100% tariff on the business they do with
the United States.

You know what the BRICS is, right? You guys know, you know what I’m saying,
you know what I’m saying.

BRICS: 44% of global GDP (PPP), 56% of world population

The US government’s fear of BRICS is rooted in the Global South-led
organization’s increasing power.

The 20 BRICS members and partners already represent more than two-fifths of
the global economy: 43.93% of world GDP
<https://geopoliticaleconomy.com/2025/07/04/brics-expansion-population-gdp-vietnam/>,
when measured at purchasing power parity (PPP).

[image: BRICS share world economy GDP PPP 2025]

The BRICS 20 also have a combined population of 4.45 billion, meaning they
represent 55.61% of the global population — the majority of the world.

[image: BRICS majority world population 4.45 billion 2025]
BRICS discusses dedollarization

One of the key issues discussed at the 2025 BRICS summit was
dedollarization — the attempt to create alternatives to the US dollar as
the global reserve currency.

Brazil’s left-wing President Lula da Silva has long been an advocate of
dedollarization
<https://www.ft.com/content/669260a5-82a5-4e7a-9bbf-4f41c54a6143>.

“The world needs to find a way that our trade relations don’t have to pass
through the dollar”, Lula said at the BRICS summit
<https://www.reuters.com/world/china/brics-nations-resist-anti-american-label-after-trump-tariff-threat-2025-07-07/>
.

“Obviously, we have to be responsible about doing that carefully. Our
central banks have to discuss it with central banks from other countries”,
the Brazilian leader explained, according to Reuters. He added, “That’s
something that happens gradually until it’s consolidated”.

Lula qualified that dedollarization is “complicated” and will be a slow,
gradual process, but he maintained that it is necessary.

At the 2025 BRICS summit, the Brazilian president even reiterated his call
for the creation of a new global currency to challenge the US dollar.

“That’s why your debate about the need for a new trade currency is so
important
<https://valorinternational.globo.com/foreign-affairs/news/2025/07/07/brics-revisits-complex-push-to-reduce-dollar-in-trade.ghtml>.
Is it complicated? I know. There are political challenges. But if we don’t
find a new formula, we’ll end the 21st century the same way we started the
20th. And that won’t benefit humanity”, Lula said.
BRICS initiatives to advance dedollarization

At the summit on 6 July, 2025, the 20 BRICS members and partners signed a
lengthy joint statement. The Rio de Janeiro Declaration
<https://brics.br/en/news/brics-summit-signs-historic-commitment-in-rio-for-more-inclusive-and-sustainable-governance>
was 31 pages long, and consisted of 126 points, encompassing a wide variety
of subjects.

[image: BRICS 2025 summit Rio de Janeiro Declaration]

The joint declaration made many references to BRICS initiatives to
encourage dedollarization.

It called to strengthen the BRICS bank, the New Development Bank (NDB), to
“support its growing role as a robust and strategic agent of development
and modernization in the Global South”.

In particular, the document emphasized the need for the NDB to “expand
local currency financing”.

The BRICS declaration similarly urged further development of the Contingent
Reserve Arrangement (CRA), which could serve as an alternative to the
US-dominated International Monetary Fund (IMF), by providing short-term
liquidity to countries facing balance-of-payments crises.

Another initiative discussed in the document was the New Investment
Platform (NIP), which seeks to facilitate investments in local currencies,
instead of US dollars, British pounds, or euro.

The declaration addressed the BRICS Interbank Cooperation Mechanism (ICM),
which is working on “finding acceptable mechanisms of financing in local
currencies”.

The joint statement also highlighted the work of the BRICS Cross-Border
Payments Initiative and BRICS Payment Task Force (BPTF), which it noted are
identifying “the potential for greater interoperability of BRICS payment
systems”, as part of “efforts to facilitate fast, low-cost, more
accessible, efficient, transparent, and safe cross-border payments among
BRICS countries and other nations and which can support greater trade and
investment flows”.
The president of the New Development Bank (NDB), Dilma Rousseff, at the
2025 BRICS summit in Brazil
BRICS New Development Bank expands

The current chief of the BRICS bank is Dilma Rousseff, the former president
of Brazil, from Lula’s left-wing Workers’ Party.

She announced that two more countries had joined the New Development Bank:
Colombia and Uzbekistan.

Colombia’s accession was especially symbolic, given that the South American
nation has historically been one of the closest allies of the United States.

Under its first ever left-wing president, Gustavo Petro, Colombia has
adopted a more non-aligned foreign policy, and has expressed support for
BRICS.

Just a few days before the BRICS summit, leaked audio recordings exposed
the US government’s links to a coup attempt
<https://latinamericareports.com/former-colombian-minister-sought-u-s-help-in-overthrowing-president-petro-leaked-audios-reveal/11684/>
against Colombia’s democratically elected left-wing leader.
Colombia’s President Gustavo Petro with Dilma Rousseff, the chief of the
BRICS New Development Bank

With the addition of Colombia and Uzbekistan, the New Development Bank now
has 11 members, including the founding five of Brazil, Russia, India,
China, and South Africa, plus the United Arab Emirates, Bangladesh, Egypt,
and Algeria.
BRICS promotes trade, investment, and lending in local currencies

In her remarks at the BRICS summit, Dilma emphasized that the New
Development Bank is promoting financing in local currencies.

“Any business or government that borrows in foreign currency becomes
subject to decisions made by the Federal Reserve or other central banks in
developed nations”, she said, warning of exchange-rate risk and currency
volatility.

As a positive example of an alternative, the BRICS website noted
<https://brics.br/en/news/new-development-bank-consolidates-strategic-expansion-and-reinforces-commitment-to-sustainable-development-in-the-global-south>
that Dilma “pointed to a project in Brasil funded directly in renminbi,
without the need for dollar conversion”.

The official BRICS readout of Dilma’s speech emphasized that
“local-currency operations will remain an absolute priority as a means of
building a more diverse, balanced international financial system”.

Dedollarization will be slow and steady, the NDB president stressed. The
role of the US dollar as the global reserve currency will not end
overnight, “But the rise of initiatives to expand trade in local currencies
is undeniable, and I see that as a positive development”, Dilma explained.
Brazil’s President Lula da Silva at the 2025 BRICS summit
BRICS follows in footsteps of Non-Aligned Movement and Bandung Conference

In speeches they delivered at the 2025 summit, several Global South leaders
emphasized that they see BRICS as following in the footsteps of the
Non-Aligned Movement and the anti-colonial Bandung Conference of 1955.

Brazil’s President Lula declared that “BRICS is an indispensable actor in
the struggle for a multipolar, less asymmetrical, and more peaceful world”.

He lamented that the US-dominated international financial system benefits
the rich colonial countries at the expense of the poor, formerly colonized
ones.

Lula stated
<https://www.gov.br/planalto/en/follow-the-government/speeches-statements/2025/07/brics-president-lula2019s-speech-at-the-2nd-session-2013-strengthening-multilateralism-economic-financial-affairs-and-artificial-intelligence>
(emphasis added):

The frameworks of the World Bank and the IMF currently support a “*reverse
Marshall Plan*,” where *emerging and developing economies essentially
finance the more developed world.*

International aid flows have decreased, and debt costs for the poorest
countries have soared. *The neoliberal model only deepens inequalities.*

For instance, *3000 billionaires have collectively earned USD 6.5 trillion
since 2015.*

*Tax justice and the fight against tax evasion are essential* to truly
consolidate inclusive and sustainable growth strategies fit for the 21st
century.

In another speech at the BRICS summit, the Brazilian president said
<https://www.gov.br/planalto/en/follow-the-government/speeches-statements/2025/07/president-lula2019s-statement-during-the-brics-peace-and-security-global-governance-session>
the following (emphasis added):

The United Nations recently marked its 80th anniversary on June 26 of this
year, and *we are witnessing an unprecedented collapse of multilateralism.*

The *advent of the UN marked the defeat of Nazi-Fascism* and the birth of a
sense of collective hope.

The vast majority of countries that currently comprise the BRICS were among
its founders.

Ten years later, *the Bandung Conference refuted the division of the world
into zones of influence and advanced the fight for a multipolar
international order.*

*BRICS is an heir of the Non-Aligned Movement.*

With *multilateralism under attack,* our autonomy is once again in check.

…

*International law has become a dead letter*, as has the pacific resolution
of controversies.

We are before an *unprecedented number of conflicts since World War II.*

*NATO’s recent decision feeds the arms race.*

It is easier to *designate 5% of the GDP to military spending* than to
allocate the 0.7% that has been promised for Official Development
Assistance.

Lula condemned the “genocidal practices by Israel in Gaza, the
indiscriminate killing of innocent civilians, and the use of starvation as
a weapon of war”.

The Brazilian government demanded an “end of the Israeli occupation and the
establishment of a sovereign Palestinian State”.

Lula also “denounced the violations of Iran’s territorial integrity” by the
United States and Israel.

Lamenting the “loss of credibility and paralysis” in the UN Security
Council, due to Washington’s abuse of its veto power, Brazil reiterated its
call for “deep transformations in the Security Council”, with the inclusion
of “new permanent members from Asia, Africa, Latin America, and the
Caribbean”.
Malaysia’s Prime Minister Anwar Ibrahim at the 2025 BRICS summit

Malaysia’s Prime Minister Anwar Ibrahim
<https://www.pmo.gov.my/ms/2025/07/keynote-address-yab-prime-minister-at-brics-business-forum-2025/>
also delivered a powerful speech likening BRICS to the Non-Aligned Movement
and Bandung Conference.

Anwar stated (emphasis added):

It is a historic moment for those of you who have been following the
antecedents of history, who realize the attempt to save the voice of newly
emerging economies and countries *post colonialism* was by *Sukarno of
Indonesia, Zhou Enlai of China, Jawaharlal Nehru of India, Kwame Nkrumah of
Africa.*

It was a bold attempt to ensure that the voice of conscience, those
struggling for freedom and justice is heard. Not much success. It was a
bold attempt.

Then we have a *Non-aligned Movement*, proceeding that. Then we have *G77*,
still not achieving the desired results.

Now, I salute you, President Lula, for having the courage to proceed with a
clear vision, a clear commitment to voice the concerns, aspirations of the
people, particularly of the *Global South.*

…

We have enormous potential to increase because only with that strength can
we safely, fairly, justly negotiate with all other partners multilaterally.

We must demand a change. Democratic, just international and multilateral
organization from the United Nations to WTO to IMF in the World Bank

…

We have attempted in ASEAN other than enhancing international trade is even
using financial settlement systems. We use our local currency. Of course,
we’re not talking about de-dollarization because there’s a long way to go,
but at least we try, Malaysia with Indonesia, Malaysia with Thailand, and
together with China, trying to use our own local currency, even beginning
with 10 or 20%, it makes a difference, because we cannot continue
complaining but not executing our own plan among in our countries and our
friendly neighbors.

…

But I come back to the major and central issue: BRICS today of 2025 is not
the first attempt.

*The Bandung Conference of 1955* — at that time we were struggling, No
industry, no new technology, no competence except for a united nation, the
country, and political leadership.

Now we have political leadership with that vision and we have strong
business community.

<https://geopoliticaleconomy.com/#twitter>

In this article:Brazil <https://geopoliticaleconomy.com/tag/brazil/>, BRICS
<https://geopoliticaleconomy.com/tag/brics/>, colonialism
<https://geopoliticaleconomy.com/tag/colonialism/>, Cuba
<https://geopoliticaleconomy.com/tag/cuba/>, de-dollarization
<https://geopoliticaleconomy.com/tag/de-dollarization/>, Dilma Rousseff
<https://geopoliticaleconomy.com/tag/dilma-rousseff/>, dollar
<https://geopoliticaleconomy.com/tag/dollar/>, finance
<https://geopoliticaleconomy.com/tag/finance/>, imperialism
<https://geopoliticaleconomy.com/tag/imperialism/>, Lula da Silva
<https://geopoliticaleconomy.com/tag/lula-da-silva/>, NDB
<https://geopoliticaleconomy.com/tag/ndb/>, New Development Bank
<https://geopoliticaleconomy.com/tag/new-development-bank/>, Vietnam
<https://geopoliticaleconomy.com/tag/vietnam/>
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