President-elect Donald Trump has once again asserted his stance on imposing tariffs, this time targeting the BRICS nations in the weeks leading up to his inauguration. He specifically warned these major economies of facing 100% tariffs if they were to introduce a new currency or replace the US dollar.
India, a key member of BRICS, has been singled out by Trump for its trading practices. Despite the strained trade relations, Trump shares a warm relationship with Indian Prime Minister Narendra Modi, which could work in India's favor during his second term.
Unlike other BRICS members like Russia, China, and Brazil, India is not considered anti-American in sentiment. This unique position could give India an advantage in discussions regarding de-dollarization within the group.
While Trump's approach to trade is known to be transactional, India has managed to navigate through challenges, such as the trade surplus with the US. The country's growing importance as a manufacturing hub and its strategic partnerships with companies like Apple further complicate the trade dynamics.
Despite potential trade hurdles, experts believe that India's ability to strike deals and align its interests with Trump's administration could mitigate any adverse impacts. The past instances of cooperation, such as the waiver granted to India over the Chabahar Port project in Iran, highlight India's adeptness in balancing its priorities.
As India looks ahead to its future interactions with the incoming Trump administration, there is cautious optimism in New Delhi about maintaining a constructive relationship while safeguarding its national interests.
