BRICS: Upcoming Summit Could Trigger Global Shift Away from US Dollar

In just the first few months of 2025, rising global tensions have placed the spotlight on the growing divide between the United States and the BRICS alliance, with recent expansions.

With trade policies becoming increasingly nationalistic under President Donald Trump, the BRICS bloc appears more determined than ever to step away from the US dollar, setting the stage for what could be its most decisive summit yet.

Scheduled for later this year, the upcoming BRICS gathering in Brazil—already dubbed the “Rio Reset” by analysts—could mark a turning point in global finance. The bloc has long expressed its desire to reduce reliance on the dollar in international transactions, and recent American tariff moves may serve as a catalyst for faster action.

Over the past few years, BRICS leaders have openly discussed creating alternative payment systems and boosting trade using local currencies. Now, with the dollar weakening amid trade friction and policy uncertainty, there’s growing speculation that this year’s summit will deliver concrete steps toward a new financial order.

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The Birch Gold Group recently emphasized the potential significance of the 17th annual BRICS meeting, suggesting it could spark “a major disruption” to the dollar-led financial system. Analysts like Peter Reagan believe the gathering could have historic consequences, especially as Brazil—this year’s chair—emphasizes a shift in global currency dynamics.

Already, payments in Chinese yuan have reportedly surged across BRICS trade channels, hitting 24% so far in 2025. If current momentum holds, the summit could accelerate this shift, providing the bloc with greater autonomy and reducing exposure to Western monetary policy swings.

Meanwhile, the US dollar has dropped roughly 10% since the start of Trump’s second term—an early signal that global confidence may be wavering. Without new international agreements or cooperation, the pressure on the greenback may only intensify.

Alexander Stefanov