BRICS Unveils De-Dollarization Payment Push as Trump Threatens 100% Tariffs

At the New Delhi summit, leaders adopted BRICS Pay, a payment messaging network designed to give interoperability between India's UPI, China's CIPS and Russia's SPFS rails so members can settle cross-border trade in local currencies without dollar conversion. The New Delhi Declaration explicitly rules out a shared BRICS currency, framing the push as 'derisking' rather than full de-dollarization, and states there is 'no one-size-fits-all approach.' President Trump responded by threatening 100% tariffs on BRICS members, reiterating a warning first made over the bloc's earlier de-dollarization talk, even though BRICS Pay is a payment-messaging layer and not a reserve-currency replacement.