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Follow Global EconomyLeaders at the 18th BRICS Summit in New Delhi advocated for a multipolar world order, UN Security Council reforms, and increased economic cooperation. They supported greater use of local currencies, stronger cross-border payment systems, and collaboration on food security, energy, and AI. The bloc also criticized unilateral sanctions and rising tariffs, signaling a push against existing global economic structures.
U.S. President Donald Trump confirmed plans to cut trade with countries where the U.S. runs a deficit, citing the need for balanced trade. Speaking in Ireland, he indicated that new trade actions are imperative to achieve surpluses or break-even with trading partners. This move follows recent diplomatic conflicts and tariffs with Canada, raising concerns about a potential global trade war and its economic implications.