brics to currency expansion trade

Mexico Eyes Strategic Shift to BRICS Amid US Tensions

EDITOR'S NOTES

As relations with the United States become increasingly hostile, Mexico is positioning itself for a strategic pivot by expressing interest in joining the BRICS alliance, a move that underscores a broader global shift towards economic diversification and de-dollarization. This interest not only signifies Mexico’s attempt to mitigate economic pressures from its northern neighbor but also marks a significant moment as Mexico could become the first Latin American country and the immediate US neighbor to join the alliance. With the next BRICS summit in October potentially deciding on the inclusion of new members, the world watches closely as these developments could further challenge the dominance of the US dollar and shift the dynamics of international trade and diplomacy.

South Africa’s Ambassador to Russia, Mzuvukile Geoff Maqetuka confirmed last week that 25 new countries are ready to join BRICS. Mexico is among the 25 countries that have expressed interest to join the BRICS alliance, reported Eurasia Network. The interest in joining the bloc comes after tensions with the US escalated due to the illegal border crossings. Read here to know the full list of countries that want to join BRICS.

The US and Mexico are at loggerheads for illegal immigration, border security, drug cartels, illicit trade, and human rights violations. The development led to the US imposing tariffs on Mexican goods and threatening to cut aid to Mexico. Amid the growing tensions, Mexico now wants to be a part of BRICS to ward off the economic threats from the US.

 

Mexico Expresses Interest To Join BRICS

Mexico Flag
Source: bergerpaints.com

Mexico expressed its interest to join BRICS and be a part of the group that’s taking on the US. If BRICS inducts Mexico, it could be the first South American country to be a part of the alliance. It will also be the first immediate neighbor of the US to join BRICS this year.

“There were close to 25 (countries) who indicated that they are ready to join BRICS,” the South African ambassador said to Tass.

However, the decision to induct new countries will be based on the consensus of all the member countries. The BRICS expansion could most likely be decided in the next summit in October this year. It is not known if BRICS will induct Mexico into the group and allow the country to be a part of decision-making.

BRICS could further its de-dollarization initiative in South America if it inducts Mexico into the bloc. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade.

This article originally appeared on Watcher.Guru