BRICS nations are increasingly united in pursuing global economic and trade reforms, even as the United States views the bloc as a growing challenge to its hegemony. Despite US President Donald Trump’s repeated criticisms and punitive measures, the BRICS group is consolidating its influence, representing nearly half the world’s population, 40% of global GDP, and over a quarter of international trade.

At a Foreign Ministers’ meeting on September 27, BRICS countries emphasized their commitment to resisting “coercion that threatens global trade, disrupts supply chains, or introduces uncertainty into international economic activities.” This marks a continued push for reform within the existing global financial system, rather than a full-scale departure from it.

The BRIC concept, first coined by Goldman Sachs in 2001, evolved into BRICS with South Africa’s inclusion in 2010, and further expanded in 2024 with Egypt, Ethiopia, Iran, and the UAE joining as full members. Indonesia became a full member in 2025, while several countries, including Belarus, Bolivia, and Kazakhstan, joined as partners.

The bloc has recently faced scrutiny over potential “de-dollarisation” moves. Reports highlight that India, China, and Turkey are exploring alternatives to the US dollar in trade, especially in commodity markets affected by Western sanctions on Russia. However, experts stress that the US dollar remains the dominant global reserve currency, used in nearly 90% of transactions.

BRICS also voiced strong support for Ethiopia and Iran’s bids for WTO accession and condemned military strikes on Iran since June 2025, signaling growing political and economic alignment among member states.

According to analysts at Chatham House, while BRICS remains a loose alliance, countries like Brazil, India, and South Africa are actively pushing for reforms in commercial, financial, and multilateral systems without breaking away from the global order.

As BRICS continues to gain momentum, the bloc is emerging as a key player in shaping the future of global trade, finance, and diplomatic norms, balancing reform with stability.