To address economic disruptions brought on by Washington's trade and tariff policies, Brazilian President Luiz Inacio Lula da Silva has called a virtual summit of the BRICS grouping, which External Affairs Minister S Jaishankar will represent India next week.
The gathering aims to establish a shared strategy for handling the trade battle being waged by the Trump administration. Currently, Brazil serves as the chair of the BRICS. Along with South Africa, Indonesia, Iran, China, India, and the United Arab Emirates, the organization consists of ten members.
Early last month, Lula called Prime Minister Narendra Modi, and the two leaders agreed to deepen their bilateral energy and commercial relations.
Similar to India, the US imposed 50 percent tariffs on Brazilian goods. According to reports from Brazil, the president of Brazil is expected to speak on the tariff problem during the BRICS virtual summit.
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Reports indicate that New Delhi chose to send Jaishankar to the summit as part of a "balancing act" in response to Washington's growing mistrust of the BRICS agenda.
In a number of remarks, US President Donald Trump has warned BRICS against pursuing any "de-dollarization" initiatives. In 2024, Egypt, Ethiopia, Iran, and the United Arab Emirates joined BRICS, which was first formed by Brazil, Russia, India, China, and South Africa. Indonesia joined in 2025.
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It has become a powerful group, accounting for about 49.5 percent of the world's population, 40 percent of its GDP, and 26 percent of its trade.