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Wednesday, September 17, 2025

Category: World
August 5, 2025
Economy
World

Trump Says New Tariff Plan on Semiconductors Incoming.

PULSE POINTS

❓WHAT HAPPENED: President Donald J. Trump announced plans to unveil new tariffs on semiconductors and chips within the next week.

👤WHO WAS INVOLVED: President Donald Trump during an interview on CNBC’s Squawk Box. 

📍WHEN & WHERE: August 5, 2025, during an interview on CNBC.

💬KEY QUOTE: “We’re going to be announcing on semiconductors and chips, which is a separate category, because we want them made in the United States.” – Donald Trump

🎯IMPACT: The tariffs aim to prioritize U.S. manufacturing of semiconductors and chips, potentially affecting global trade dynamics.

IN FULL

President Donald J. Trump says a new round of trade tariffs will be announced as early as next week. The new trade duties will focus on semiconductors as part of a broader effort to boost U.S. manufacturing, especially on the high-tech front.

“We’re going to be announcing on semiconductors and chips, which is a separate category, because we want them made in the United States,” Trump said during an interview on CNBC’s Squawk Box. According to the America First leader, the announcement will likely come  “within the next week or so.”

Trump emphasized that the tariff plans are still ongoing and that the semiconductor and chip tariffs represent a distinct focus on bolstering domestic manufacturing. The announcement follows an executive order Trump signed recently imposing new U.S. tariff rates on imports from around seventy countries. These trade duties will take effect on Thursday.

Already, a number of nations are scrambling to strike a trade deal with the Trump White House before the Thursday deadline, including Switzerland, which faces one of the highest rates, 39 percent, set to be imposed.

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August 1, 2025
News
World

China Building Up Nuclear Arsenal to Match America, Dominate Asia by 2030s.

PULSE POINTS

❓WHAT HAPPENED: A report by the Hudson Institute highlights China’s nuclear ambitions, revealing its strategy to challenge U.S. influence in Asia and sow doubts among American allies.

👤WHO WAS INVOLVED: The Hudson Institute, China, U.S. allies including Japan, the Philippines, and South Korea, and the United States.

📍WHEN & WHERE: Findings are based on projections through the mid-2030s.

💬KEY QUOTE: “The purpose of amplifying uncertainty is to manipulate notions of risk to China’s advantage,” the report states.

🎯IMPACT: The report warns of China’s nuclear buildup and urges the U.S. to strengthen deterrence while exposing Beijing’s coercive tactics.

IN FULL

According to a new report from the Hudson Institute, China is expanding its nuclear arsenal not just for traditional deterrence but also to assert greater influence in Asia and challenge the United States’ regional leadership. The think tank warns that by the mid-2030s, Beijing is on track to achieve nuclear parity with the U.S., developing a modern, survivable, and flexible nuclear force that includes “over 1,000 warheads, a fully developed nuclear triad, and tactical nuclear capabilities.”

While the report doesn’t suggest China is preparing to fight a nuclear war, it highlights a more nuanced strategy: using nuclear coercion to undermine U.S. alliances and credibility. The goal, it says, is to “manipulate and degrade trust in America’s nuclear umbrella,” particularly in East and Southeast Asia. By creating uncertainty over whether Washington would actually defend allies such as Japan, South Korea, or the Philippines in a crisis, Beijing hopes to increase doubts and push those nations toward “strategic passivity.”

“The purpose of amplifying uncertainty is to manipulate notions of risk to China’s advantage,” the report states. “This is primarily about exacerbating hesitancy among U.S. allies by exploiting persistent fears of abandonment and doubts regarding America’s commitment.”

China’s nuclear buildup is only part of a broader military and political strategy that combines rapid force modernization with psychological and information warfare. Advanced weapons development is central to this effort, including systems like hypersonic boost-glide delivery vehicles and fractional orbital bombardment platforms.

Beijing’s growing range of delivery methods now includes fixed silos, submarines, road-mobile launchers, and aircraft.

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August 1, 2025
War
World

Zelensky Confirms Talks with Trump on Major Arms Deal.

PULSE POINTS

❓WHAT HAPPENED: Ukrainian President Volodymyr Zelensky announced progress toward a major arms agreement with the United States, following discussions with President Donald J. Trump.

👤WHO WAS INVOLVED: Volodymyr Zelensky, Donald Trump, and European Union (EU) leaders.

📍WHEN & WHERE: Zelensky’s address took place Wednesday evening; discussions with Trump occurred recently, with the EU negotiations ongoing.

💬KEY QUOTE: “Large-scale agreements, I talked about them with President Trump, and I very, very much hope that we will be able to implement all of this.” – Volodymyr Zelensky

🎯IMPACT: The agreements could bolster Ukraine’s military capacity, while also solidifying U.S. and EU support amid ongoing conflict with Russia.

IN FULL

Ukrainian President Volodymyr Zelensky claimed during an address in Kiev this week that his country is close to finalizing a significant arms agreement with the United States. He revealed that he presented President Donald J. Trump with Ukraine’s “main principles” for future weapons deals, but did not confirm whether Trump had agreed to these terms.

“Today, I also agreed on the main principles of our agreements with America, Ukraine—the United States—on arms,” Zelensky said. He continued: “Large-scale agreements, I talked about them with President Trump, and I very, very much hope that we will be able to implement all of this. This will definitely strengthen both of our countries, and therefore—our allies, our partners.”

Last week, the Trump administration approved arms sales to Ukraine totaling $650 million, but it remains unclear if these are the same “large-scale” deals mentioned by Zelensky. The Ukrainian leader emphasized the importance of these agreements as a step toward ending the war with Russia. “Right now we need to act to force Russia to peace,” he said, adding that sanctions and economic pressure could also play a significant role.

Trump also highlighted a recent agreement with the European Union (EU), under which the EU would pay “100% of the cost of all military equipment” provided by the U.S. “They’re going to ship it to the European Union, and then they’ll distribute it, and much of it will go to Ukraine,” Trump stated. Additionally, the EU will fund U.S.-made Patriot air defense systems sent to Ukraine, whether directly or through European nations. Trump has described the arrangement as economically beneficial, stating, “This will be a business for us.”

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August 1, 2025
William Upton
Economy
World

Trump Sets New Tariff Rates for Nearly 70 Nations.

PULSE POINTS

❓WHAT HAPPENED: President Donald J. Trump has issued an executive order setting new reciprocal tariff rates for nearly 70 countries across the globe.

👤WHO WAS INVOLVED: President Donald J. Trump, Canada, Mexico, and a number of other nations worldwide.

📍WHEN & WHERE: The new trade duty rates were announced late Thursday and take effect on August 7, while the Canadian tariff rate takes effect immediately.

💬KEY QUOTE: “The complexities of a Deal with Mexico are somewhat different than other Nations because of both the problems, and assets, of the Border. We have agreed to extend, for a 90 Day period, the exact same Deal as we had for the last short period of time, namely, that Mexico will continue to pay a 25% Fentanyl Tariff, 25% Tariff on Cars, and 50% Tariff on Steel, Aluminum, and Copper.” — President Trump

🎯IMPACT: A total of around 40 countries with which the United States currently has a small trade deficit will only face a 15 percent rate, while another nearly 30 countries will see rates ranging from 18 percent to 50 percent.

IN FULL

President Donald J. Trump has announced new reciprocal tariff rates imposed on countries worldwide. The trade duties range from the baseline 10 percent to a high of 50 percent. A total of around 40 countries with which the United States currently has a small trade deficit will only face a 15 percent rate, while another nearly 30 countries will see rates ranging from 18 percent to 50 percent, set take effect on August 7.

Canada will additionally have some of its goods that are not exempted under the USMCA free trade agreement tariffed at a new 35 percent rate. The Trump White House says the increased Canadian trade duties are in response to the lack of cooperation from America’s northern neighbor in addressing the flow of fentanyl and other illicit drugs across the border. The new tariff rate on certain Canadian goods takes effect on August 1.

Meanwhile, goods from Mexico that are not covered by the USMCA could see a 25 percent tariff. President Trump, however, says he has delayed the imposition of the new trade duty amid ongoing negotiations with Mexico’s president, Claudia Sheinbaum.

“I have just concluded a telephone conversation with the President of Mexico, Claudia Sheinbaum, which was very successful in that, more and more, we are getting to know and understand each other,” President Trump announced in a post on Truth Social on Thursday. “The complexities of a Deal with Mexico are somewhat different than other Nations because of both the problems, and assets, of the Border. We have agreed to extend, for a 90 Day period, the exact same Deal as we had for the last short period of time, namely, that Mexico will continue to pay a 25% Fentanyl Tariff, 25% Tariff on Cars, and 50% Tariff on Steel, Aluminum, and Copper.”

“Additionally, Mexico has agreed to immediately terminate its Non Tariff Trade Barriers, of which there were many. We will be talking to Mexico over the next 90 Days with the goal of signing a Trade Deal somewhere within the 90 Day period of time, or longer,” Trump added.

Countries that will now face a 15 percent tariff rate include: Afghanistan, Angola, Bolivia, Botswana, Cameroon, Chad, Costa Rica, Ivory Coast, DR Congo, Ecuador, Equatorial Guinea, European Union (on most goods), Fiji, Ghana, Guyana, Iceland, Israel, Japan, Jordan, Lesotho, Liechtenstein, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Nauru, New Zealand, Nigeria, North Macedonia, Norway, Papua New Guinea, South Korea, Trinidad and Tobago, Turkey, Uganda, Vanuatu, Venezuela, Zambia, and Zimbabwe.

Nicaragua will face a rate of 18 percent, while Cambodia, Indonesia, Malaysia, Pakistan, Philippines, and Thailand will be tariffed at 19 percent. A 20 percent tariff will be imposed on Bangladesh, Sri Lanka, Taiwan, and Vietnam, with a 25 percent rate on goods from Brunei, India, Kazakhstan, Moldova, and Tunisia.

Algeria, Bosnia and Herzegovina, Libya, and South Africa will be subject to a 30 percent tariff, while Serbia and Iraq will face a 35 percent tariff. Meanwhile, Switzerland will face a 39 percent trade duty, and Laos and Myanmar will be subject to a 40 percent tariff. Finally, Syria will be subject to a 41 percent tariff, and Brazil, criticized by Trump for mistreating former President Jair Bolsonaro, will be hit with a 50 percent tariff.

Notably, the Trump administration says that goods found to be transshipped to evade these tariffs will face an additional 40 percent duty.

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July 31, 2025
Corruption
World

Ukrainian Lawmakers Brawl in Parliament as Zelensky Reverses Crackdown on Anti-Corruption Agencies.

PULSE POINTS

❓WHAT HAPPENED: Ukrainian lawmakers passed a bill reinstating the independence of anti-corruption agencies after protests. Two politicians fought in the chamber during the session.

👤WHO WAS INVOLVED: Ukrainian President Volodymyr Zelensky, Prime Minister Yulia Svyrydenko, European Union (EU) officials, and members of Ukraine’s parliament.

📍WHEN & WHERE: July 31, 2025, during a parliamentary session in Kiev, Ukraine.

💬KEY QUOTE: “This guarantees the normal, independent work of anti-corruption bodies and all law enforcement agencies in our country. It is the right decision.” – Volodymyr Zelensky

🎯IMPACT: The decision restores Ukraine’s anti-corruption safeguards, addresses public outcry, and aligns with EU governance rules.

IN FULL

Ukraine’s parliament voted on July 31 to reestablish the autonomy of its two key anti-corruption bodies, responding to widespread domestic and international criticism over a recent law placing them under the government’s control. The measure passed unanimously, with 331 lawmakers voting in favor, marking a significant political reversal for President Volodymyr Zelensky.

The parliamentary session was notable for being the first to be broadcast live since Russia’s full-scale invasion of Ukraine in 2022, and it reflected the gravity of the situation. Tensions ran high inside the chamber, culminating in a punch-up between two politicians. The cause of the scuffle remains uncertain.

President Zelensky addressed the nation following the vote, acknowledging the strong reaction, including protests in several cities, that the prior law had triggered. “It is very important that the state listens to public opinion,” he said. He emphasized that the new law secures the independence of the National Anti-Corruption Bureau (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAPO), which was gutted by previous legislation.

The controversy began when Zelensky signed a law that transferred oversight of the anti-corruption bodies to the office of the prosecutor general, who is under Zelensky’s control. Critics, including European Union (EU) officials and human rights groups, saw this as a significant rollback of anti-corruption reforms. The backlash was swift: thousands of Ukrainians took to the streets in Kiev, protesting despite ongoing martial law, and efforts by Zelensky to claim the anti-corruption bodies had been infiltrated by Russia.

The independence of NABU and SAPO has long been regarded as critical to Ukraine’s aspirations for European Union membership and continued access to Western financial support. Both agencies have played pivotal roles in investigating high-level corruption, including cases involving senior government officials.

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July 31, 2025
News
World

Israeli NatSec Minister Says ‘Germany Is Returning to Supporting Nazism.’

PULSE POINTS

❓WHAT HAPPENED: Israeli National Security Minister Itamar Ben Gvir accused Germany of reverting to Nazism following comments by German Foreign Minister Johann Wadephul on recognizing a Palestinian state.

👤WHO WAS INVOLVED: Itamar Ben Gvir, Johann Wadephul, Israeli Foreign Minister Gideon Sa’ar, and Israeli Prime Minister Benjamin Netanyahu.

📍WHEN & WHERE: July 31, 2025, during Wadephul’s visit to Jerusalem.

💬KEY QUOTE: “80 years after the Holocaust, and Germany is returning to supporting Nazism.” – Itamar Ben Gvir

🎯IMPACT: The accusation highlights tensions between Israel and Germany concerning the Israeli-Palestinian conflict.

IN FULL

Israeli National Security Minister Itamar Ben Gvir has charged Germany with reverting to National Socialism in response to comments by German Foreign Minister Johann Wadephul. Wadephul had observed at a recent United Nations (UN) conference on a so-called two-state solution to the conflict between Israel and the Palestinians that “Israel is finding itself increasingly in the minority.”

Ben Gvir quickly condemned the statement, posting on X (formerly Twitter), “80 years after the Holocaust, and Germany is returning to supporting Nazism.” His remarks coincide with Wadephul’s visit to Jerusalem for meetings with Israeli Foreign Minister Gideon Sa’ar and Prime Minister Benjamin Netanyahu.

Wadephul recently said that “in view of the open threats of annexation [of Palestinian territories] by some in the Israeli government, a growing number of European countries are ready to recognize a state of Palestine without previous negotiations.”

Ben Gvir and his Otzma Yehudit party are staunch supporters of West Bank annexation, a stance echoed by other figures in Netanyahu’s coalition—although a complete annexation is not the official policy of Netanyahu and his Likud party, which have held varying, usually more moderate stances on annexing Jewish settlements in the West Bank over the years.

The clash reflects escalating tensions between Israel and Germany, as well as shifting European views on the Israeli-Palestinian conflict.

France has already signaled its intention to recognize a Palestinian state at a United Nations General Assembly (UNGA) meeting in September, with Britain saying it will do the same unless Israel meets certain demands on aid.

However, President Donald J. Trump, while increasingly critical of Netanyahu, believes such recognition would amount to “rewarding Hamas” for its October 7, 2023, terror raid against Israel. He has even warned the Canadian government that, if it moves to recognize Palestinian statehood, it could derail U.S.-Canadian trade negotiations.

Image via Wikimedia Commons.

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July 31, 2025
Immigration
World

This Country Is Mass Deporting Millions of Illegals.

PULSE POINTS

❓WHAT HAPPENED: Nearly one million Afghan migrants without proper documentation in Iran have been deported back to Afghanistan in recent weeks, with another million deportations targeted.

👤WHO WAS INVOLVED: Afghan illegal immigrants, Iranian authorities, and the Taliban.

📍WHEN & WHERE: Iran, ongoing since 2023, with significant escalations in recent weeks.

💬KEY QUOTE: “We’ve always striven to be good hosts, but national security is a priority.” – Iranian government spokeswoman Fatemeh Mohajerani

🎯IMPACT: The deportations show that mass deportations are perfectly possible over a short timeframe, in countries with far fewer resources than in the West.

IN FULL

Iran has initiated a sweeping deportation campaign targeting Afghan migrants without legal documentation, resulting in the removal of nearly one million illegal immigrants over the past month alone. According to Iranian Interior Minister Eskandar Momeni, this figure represents approximately half of the estimated two million Afghans currently residing in the country.

The sudden surge in deportations comes in the wake of recent national security incidents linked to Iran’s conflict with Israel. Iranian authorities claim that some Afghan refugees were involved in serious security breaches, including piloting drones, collecting classified intelligence, and executing acts of sabotage. In one report aired on June 26, state-run television broadcast a confession from an Afghan national allegedly involved in a plot to bomb a power station located in southeast Tehran.

“We’ve always striven to be good hosts, but national security is a priority,” stated Iranian government spokeswoman Fatemeh Mohajerani. However, some critics argue the crackdown is being used to shift blame for intelligence failures onto the Afghan refugee population.

The Taliban has publicly urged its western neighbor to reconsider the pace of these expulsions, proposing a slower, more structured process. Afghans have already been returned to their homeland en masse from Pakistan, to its east.

The speed and scale of the removals appear to prove that mass deportations are not a logistical impossibility, as anti-deportation activists in the U.S. and other Western countries often contend. Notably, Afghans appear to be a disproportionate threat to public safety wherever they go, with British crime statistics indicating that they are over 22 times more likely to be convicted of sex crimes than locals, for instance.

Image by isafmedia.

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July 31, 2025
Economy
News
World

Trump Tariffs on the Line as Court Decision Looms.

PULSE POINTS

❓WHAT HAPPENED: A federal appeals court is reviewing President Donald J. Trump’s global reciprocal tariffs, just before another round of duties is set to take effect.

👤WHO WAS INVOLVED: President Donald J. Trump, the U.S. Court of Appeals for the Federal Circuit, five small businesses, and 12 Democrat-controlled states.

📍WHEN & WHERE: Thursday, at the U.S. Court of Appeals for the Federal Circuit in Washington, D.C.

💬KEY QUOTE: “If our Country was not able to protect itself by using TARIFFS AGAINST TARIFFS, WE WOULD BE ‘DEAD,’ WITH NO CHANCE OF SURVIVAL OR SUCCESS.” – Donald Trump

🎯IMPACT: The decision could set a significant precedent for presidential authority under the 1977 International Emergency Economic Powers Act.

IN FULL

President Donald J. Trump’s global reciprocal tariffs are under review by the full 11-judge bench of the U.S. Court of Appeals for the Federal Circuit in Washington, D.C. The hearing comes just hours before a new wave of trade duties is set to take effect.

The court will determine whether Trump exceeded his authority by imposing reciprocal tariffs on various U.S. trading partners. The appeal follows a May ruling by a three-judge panel of the Court of International Trade, which blocked the tariffs, stating that Trump’s use of emergency powers under the 1977 International Emergency Economic Powers Act (IEEPA) was unjustified. That decision has been stayed pending the outcome of this new hearing.

On Thursday, Trump posted on Truth Social, calling this case “America’s big case” and defending his use of tariffs, stating, “To all of my great lawyers who have fought so hard to save our Country, good luck in America’s big case today. If our Country was not able to protect itself by using TARIFFS AGAINST TARIFFS, WE WOULD BE ‘DEAD,’ WITH NO CHANCE OF SURVIVAL OR SUCCESS. Thank you for your attention to this matter!”

The challenge to Trump’s use of emergency powers has been brought by five small businesses and 12 Democrat-controlled states. They argue that the IEEPA is meant to address “unusual and extraordinary” threats in national emergencies, which they claim the tariffs fail to meet.

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July 31, 2025
News
World

Trump Warns Canada That Recognizing a Palestinian State Could Derail Trade Deal.

PULSE POINTS

❓WHAT HAPPENED: President Donald J. Trump warned of potential trade consequences for Canada after its decision to recognize a Palestinian state at the United Nations General Assembly (UNGA).

👤WHO WAS INVOLVED: President Trump, Canadian Prime Minister Mark Carney, and the governments of France and the United Kingdom.

📍WHEN & WHERE: The announcement was made on Truth Social late Wednesday night, amid ongoing trade negotiations between the U.S. and Canada.

💬KEY QUOTE: “Wow! Canada has just announced that it is backing statehood for Palestine. That will make it very hard for us to make a Trade Deal with them. Oh’ Canada!!!” – President Trump

🎯IMPACT: The Trump administration has taken a more assertive stance against Western allies supporting Palestinian statehood, complicating ongoing U.S.-Canada trade negotiations.

IN FULL

President Donald J. Trump issued a sharp warning to Canada late on July 30, suggesting that the country’s decision to recognize a Palestinian state could jeopardize ongoing trade negotiations with the United States. Posting on Truth Social, Trump wrote: “Wow! Canada has just announced that it is backing statehood for Palestine. That will make it very hard for us to make a Trade Deal with them. Oh’ Canada!!!”

The comment comes in response to Canada’s recent declaration that it plans to support the recognition of “Palestine” during the United Nations General Assembly (UNGA) session scheduled for September. Canada’s move places it alongside France and the United Kingdom, both of which have already signaled their intent to recognize Palestinian statehood.

This stance has sparked backlash, given Israel’s ongoing war with Hamas in Gaza. The jihadist group is still holding around 50 Israeli hostages.

Notably, there is currently no explicit agreement on the future borders of a Palestinian state. Critics argue that such recognition at this moment could be seen as legitimizing terrorism following the October 7, 2023, attack on Israel. President Trump, for instance, has dismissed efforts to recognize “Palestine” outright, labeling it a “reward for Hamas.”

Up until now, Trump had refrained from publicly targeting allied nations for their positions on Palestinian statehood. However, his statement Wednesday night marks a notable shift, indicating a more confrontational posture—despite his own disagreements with Israeli Prime Minister Benjamin Netanyahu, and some discontent with the Israeli government among his MAGA base.

The dispute arises during a sensitive period in Canada–U.S. relations. The two countries are in the midst of what Canadian Prime Minister Mark Carney has described as “intense” trade negotiations. A tariff deadline looms on August 1, and tensions are already high. Carney’s decision to proceed with recognizing Palestine could further strain the talks.

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July 31, 2025
William Upton
Economy
World

Trump Labels India and Russia ‘Dead Economies’ Amid Trade Dispute.

PULSE POINTS

❓WHAT HAPPENED: President Donald J. Trump announced new tariffs on India, set to take effect tomorrow, while criticizing India’s economic ties with Russia and high Indian tariffs.

👤WHO WAS INVOLVED: President Trump, Indian government officials, former Russian President Dmitry Medvedev, and the BRICS bloc.

📍WHEN & WHERE: Tariffs take effect Friday; statements made on Truth Social and in Indian government responses over the past two days.

💬KEY QUOTE: “We have done very little business with India, their Tariffs are too high, among the highest in the World.” – Donald Trump

🎯IMPACT: Analysts estimate a $10 billion impact on Indian exporters.

IN FULL

President Donald J. Trump took aim at two key members of the BRICS economic bloc early Thursday morning, slamming Russia and India, the latter specifically for having not reached a bilateral trade agreement with the United States. A number of nations, including Japan and South Korea, along with the European Union (EU), have scrambled to reach deals ahead of Trump’s tariff deadline on August 1 after trade duties were initially announced at the America First leader’s “Liberation Day” event in April.

“I don’t care what India does with Russia. They can take their dead economies down together, for all I care. We have done very little business with India, their Tariffs are too high, among the highest in the World. Likewise, Russia and the USA do almost no business together,” Trump wrote on Truth Social. He continued, with special ire for Russia’s former president and the current Deputy Chairman of the Security Council, Dmitry Medvedev: “Let’s keep it that way, and tell Medvedev, the failed former President of Russia, who thinks he’s still President, to watch his words. He’s entering very dangerous territory!”

Medvedev has written in a July 28 social media post, “Trump’s playing the ultimatum game with Russia… Russia isn’t Israel or even Iran,” adding: “Each new ultimatum is a threat and a step towards war. Not between Russia and Ukraine, but with his own country. Don’t go down the Sleepy Joe [Biden] road!”

Trump announced that India would face a 25 percent tariff plus penalties for trading with Russia starting Friday. The Indian government has since responded, emphasizing that any deal must be “mutually beneficial” and protect its farmers and small businesses. Analysts at Mumbai-based Axis Bank estimate the tariffs could have a $10 billion impact on Indian exporters.

This dispute comes months after Vice President J.D. Vance visited India in April, calling the U.S.-India relationship a “win-win partnership” and advocating for stronger ties in energy and defense trade. However, Vance—and much of the America First movement—has also been critical of India’s abuse of the United States’s H1-B visa system, which Indians have used to flood the U.S. with cheap foreign labor.

While BRICS sees itself as being capable of launching an alternative competitor to the U.S. dollar, the bloc’s member states—Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates (UAE)—all lack stable or internationally attractive currencies. Additionally, most BRICS member economies either heavily rely on exports to the United States, are entirely leveraged on resource extraction, or, in the case of Iran, barely function.

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