India recently signed the BRICS declaration acknowledging Palestine as an independent nation which did not go down very well with the US. Trump has warned all BRICS nations which are trying to actively dislodge the US dollar as the world's reserve currency that they will face a punitive 10% additional tariff over and above what he is going to impose on them in the normal course. To be in the good books of Trump, India had earlier declared that it will not support a common BRICS currency and will stick with the US dollar for world trade. But now, India seems to be pivoting. Modi tried his level best to get Adani off the hook in the bribery case initiated by the US Department of Justice but that does not seem to have materialised. Indian exports will now face 10% extra tariff as it once again becomes an active part of BRICS, other nations in the group will now be very wary of India. They know that India with Modi at the helm can't be trusted. So much for being a self appointed global statesman who is neither here nor there.
