As Donald Trump takes office, Brazil, under the rotating presidency of BRICS, has taken a bold stance against U.S. tariff threats. Eduardo Saboia, head of the BRICS summit in Rio, emphasized the bloc’s focus on strengthening local currency use and diversifying financial tools to redefine the global economic order. He stated, “We are building bridges, not walls. The BRICS Bridge is ready to push back against undue pressure and pave the way for a more collaborative and equitable future.
BRICS Bridge- As Donald Trump steps into the White House, Brazil, leading the BRICS presidency, is taking a bold and defiant stance against looming U.S. tariff threats, while positioning the bloc as a driving force in reshaping global trade. Eduardo Saboia, head of the upcoming BRICS summit in Rio de Janeiro, dismissed Trump’s aggressive rhetoric as a catalyst for BRICS nations to assert their economic independence and strengthen their collective influence. In a candid interview, Saboia clarified that the bloc is not seeking to replace the dollar but aims to diversify its financial tools.
“We aim to increase trade among BRICS nations, ramp up investments, and lower transaction costs. The conversation around using local currencies is pragmatic, not coercive,” he said. “While BRICS countries hold significant dollar reserves, diversifying our options is essential to empower economic actors and unlock greater transaction possibilities.”
The Rio summit promises to be a pivotal moment for the BRICS Bridge as it challenges traditional economic norms and advocates for a balanced global economic order. Saboia emphasized that “BRICS is not about being anti-West; it’s about reshaping the system for inclusive growth.” He also noted that BRICS nations played a critical role in stabilizing the global economy after the 2008 crisis and are now ready to lead once again. The summit will provide a platform for discussing innovative strategies, including enhancing local currency usage to strengthen economic ties within the bloc and reduce dependency on the dollar.
With a tone of determined diplomacy, Saboia concluded, “We are building bridges, not walls. The BRICS Bridge is prepared to push back against undue pressure and pave the way for a more collaborative and equitable global future.” Brazil’s leadership during this critical period reflects the bloc’s ambition to not only navigate but also shape global economic dynamics, showcasing its readiness to redefine the rules of international trade.
https://www.barrons.com/news/brics-aims-to-build-global-ties-as-trump-takes-office-brazil-3e7d7075