India's minister questions need for Brics currency amid Trump's tariff threats

India's External Affairs Minister S. Jaishankar has expressed doubts about the need for a Brics currency, suggesting that member countries will likely continue using their own currencies for trade. This follows Donald Trump's warning of 100% tariffs on Brics nations if they pursue a currency to challenge the US dollar. India, which has a strong trade relationship with the US, is cautious about Trump's protectionist policies. The country aims to reduce its dependence on the dollar but is wary of potential higher costs for exporters if tariffs are imposed. Jaishankar highlighted the complexities of establishing a common currency, noting the need for alignment in fiscal and monetary policies among Brics members. India's reluctance to support a Brics currency reflects its desire to maintain trade ties with Western powers and safeguard its economic stability.