In a single tumultuous week, President Donald Trump reignited a trade war that had remained dormant for just 3 short months. With sharp warnings to U.S. allies like Japan and South Korea—delivered via formal letters and public social media posts—Trump unleashed a new wave of protectionism. A 50% tariff on copper, potential 200% levies on pharmaceuticals, and a 35% tariff threat against Canada marked a dramatic return to economic brinkmanship. Over 20 countries now face punitive measures set to begin on August 1, unless they accept terms dictated solely by the U.S.

This sudden revival of Trump’s economic nationalism signals a turning point in the global economic order. Unlike past instances where tariffs were used as negotiating leverage, Trump now views them as the end goal. His demand to Brazil, threatening a 50% tariff over internal political matters, illustrates a shift from trade policy to geopolitical coercion. Chaos is not a side effect, it is the goal. Similarly, his late-night warning to Canada—a key U.S. trading partner—cited fentanyl, immigration, and dairy issues, effectively blending domestic grievances with international economic threats.

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Yet, this time, global markets are not flinching. Have we become desensitized? While Trump’s previous tariffs caused widespread market panic, Wall Street has now grown accustomed to the volatility. The S&P 500 reached record highs, and the Canadian dollar rebounded quickly. Investors appear to believe Trump may once again retreat at the last minute, but the uncertainty remains deeply destabilizing.

Despite promises of “90 trade deals in 90 days,” only a few vague agreements have emerged, and even those are mired in confusion. Vietnam, for example, denied having finalized any deal, despite U.S. claims to the contrary. Trump’s “my way or the highway” approach bypasses traditional diplomacy, WTO processes, and multilateral negotiation. Whether this is a strategic gamble or a chaotic impulse, one thing is clear: a new chapter in global trade is unfolding.

If no deals are reached, the world may soon face the full force of Trump’s tariff regime, reshaping economies, alliances, and the role of the U.S. in the global order.

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After the end of the Second World War, Germany was divided into four occupation zones, involving US, British and French troops in what was known as the western zone of occupation, and Russian troops in the eastern zone of occupation. In 1949, confronted by the collapse of the wartime grand alliance and the emergence of what Winston Churchill called an “iron curtain” separating the western powers from Russia, the western zones of occupation were consolidated into what became known as the Federal Republic of Germany, or West Germany.

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I have been doing interviews for several years now, providing answers to questions posed by others derived from stories that the interviewers picked. While I am pleased with my performance on these various shows, and believe I have contributed to the greater good through my responses, helping empower those who have watched these interviews with knowledg…

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A Different Kind of Global Gathering

This weekend, Rio de Janeiro plays host not to revelers or sports fans—but to policymakers and diplomats. The 17th BRICS Summit, held at the city’s Museum of Modern Art, marks a crucial moment for one of the most ambitious coalitions in global politics. Once a five-nation economic acronym, BRICS has transformed into a sprawling political and economic bloc, now encompassing ten full members and ten partner nations.

This year’s theme, “Strengthening Global South Cooperation for Inclusive and Sustainable Governance,” reflects a shift in tone. The summit is no longer a symbolic gesture. It’s an arena where real power dynamics are beginning to take shape.

Formed originally by Brazil, Russia, India, China, and South Africa, BRICS underwent a major expansion in 2024—welcoming Egypt, Ethiopia, Iran, and the UAE. In 2025, Indonesia officially joined, and Vietnam became the most recent member in June.

Together, the bloc now represents 44% of global GDP and 56% of the world’s population. With guests like Mexico, Colombia, and Uzbekistan present, the gravitational pull of BRICS has never been stronger.

But with expansion comes complexity. More members means more interests to align—and more voices at the table competing for influence.

The Currency Myth & the Real Economic Agenda

Despite frequent speculation, BRICS is not currently pursuing a common currency. The reality is more nuanced: the group is seeking to settle trade in national currencies, a bid to reduce dependency on the U.S. dollar and Euro without triggering full-scale de-dollarisation.

This is part of a broader economic agenda driven by Brazil’s presidency, which aims to scale up the New Development Bank (NDB)—a Shanghai-based institution akin to the World Bank. Brazil hopes the NDB can finance infrastructure and climate-related projects using local currencies, offering an alternative to U.S.-dominated financial institutions like the IMF and World Bank.

A Shift Toward Pragmatism

Brazil is using its summit leadership to steer BRICS away from geopolitical confrontation and toward economic development and climate action. As host of COP30 later this year in Belém, Brazil, is prioritizing climate cooperation and biodiversity.

Also on the table: a Forest Conservation Fund, new mechanisms for investment guarantees, and greater coordination on digital technology and health systems.

The focus is not to oppose the West, but to build cohesion among emerging nations and offer a credible alternative—a “Plan B”—for countries tired of navigating a U.S.-centric global order.

Global Governance and the AI Question

The summit will also tackle reform of global institutions, including the UN, the IMF, and the World Bank. BRICS leaders are pushing for governance models that give the Global South more equitable representation.

Artificial intelligence will also be part of the conversation. A joint Statement on AI and Global Governance is one of four expected outcome documents, alongside a Leaders’ Declaration, a climate finance framework, and a health partnership agenda targeting socially determined diseases.

The presence of heavyweights like Lula da Silva, Narendra Modi, and Cyril Ramaphosa highlights the bloc’s gravitas, though the absence of Xi Jinping (and the virtual participation of Vladimir Putin) speaks to the group’s evolving power dynamics.

A Counterbalance, Not a Replacement

In an era marked by global unpredictability—particularly from the United States under Donald Trump’s renewed political influence—many countries are recalibrating. BRICS, with its rapidly growing roster and economic clout, is no longer just symbolic. It’s becoming the Global South’s response to Western volatility.

The bloc isn’t perfect. It’s occasionally fractured and still finding its footing. But its purpose is not to replace the West—it’s to offer alternatives. For countries long excluded from decision-making tables, that’s a powerful proposition.

Brazil’s Moment—and What Comes Next

This year is Brazil’s opportunity to prove that BRICS can be more than a platform for speeches. The real test lies in whether Brazil can translate dialogue into results. As leaders break into side meetings and bilateral deals, the most important shifts may happen off-camera, where partnerships are forged and policy directions change.

The world may not notice the details today. But for much of the Global South, BRICS 2025 in Rio could mark the moment when something truly new began to take shape.

As the summit progresses, I will continue to cover the latest developments—including major declarations, climate deals, and governance reforms—in upcoming videos on World Affairs in Context on YouTube and here.