Source:https://www.scmp.com/week-asia/economics/article/3317907/whats-behind-trumps-brics-wrath-and-will-india-us-trade-talks-be-affected
This Week in AsiaEconomics

What’s behind Trump’s Brics wrath and will India-US trade talks be affected?

Trump’s remarks seem more like a warning to Brics and unlikely to affect India’s efforts to finalise a trade pact with the US, analysts say

Biman Mukherji
A train transports containers in Ajmer on July 7. India and the United States have been trying to finalise a trade pact to avoid the tariffs that are expected to go into effect on August 1. Photo: AFP
US President Donald Trump’s threat to slap an additional 10 per cent tariff on Brics nations may be more of a strategic warning rather than a prelude to action – and is not expected to disrupt India’s efforts to finalise a trade pact with Washington, according to analysts.

In a speech on Tuesday, Trump accused the 10-member bloc – comprising Brazil, Russia, India, China and South Africa, alongside newer entrants such as Iran, Egypt and Indonesia – of undermining the United States and seeking to weaken the dollar’s global reserve currency status.

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