BRICS US China Meet to Discuss Economic Issues Amid De-Dollarization Concerns

As the BRICS alliance has fully embraced its de-dollarization plans, the US and China have met to discuss ongoing economic issues. Indeed, the United States Treasury is closely monitoring developments.

Ahead of the BRICS Foreign Ministers' meeting, China said on Tuesday that it looks forward to exchanging views, coordinating positions and building up consensus. Brazilian Foreign Minister Mauro Vieira will host the meeting that will address key economic concerns within the bloc.

U.S. Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer will meet China's economic tsar He Lifeng in Switzerland this weekend for talks that are expected to cover a range of topics, from trade imbalances to currency valuations. This meeting comes at a crucial time as BRICS nations explore alternatives to the US dollar in international trade.

The discussions are particularly relevant in light of potential trade tensions. Trump has threatened to impose 100pc tariffs on BRICS countries if they undercut the US dollar, adding urgency to the need for open dialogue and resolution of economic disputes.

Chinese President Xi Jinping on Thursday is hosting a virtual summit with the leaders of Brazil, Russia, India and South Africa collectively known as the BRICS, amid growing global economic uncertainty. Brazilian President Lula listens to his Chinese counterpart Xi Jinping at the 15th BRICS Summit, in South Africa, August 2025, showcasing the ongoing collaboration. With its recent expansion, member and partner China will (i) modify accordingly the application of the additional ad valorem rate of duty on articles of the United States set forth in Announcement of the Customs Tariff.