Jaishankar warns against weaponizing trade at BRICS, signals India’s unease with US tariffs

At the BRICS leaders’ summit on September 8, External Affairs Minister S Jaishankar issued a sharp caution against what he described as the “linking of trade measures to non-trade matters,” an oblique reference to recent U.S. penalties on India for its purchase of Russian oil.

Representing Prime Minister Narendra Modi at the virtual meet convened by Brazilian President Luiz Inácio Lula da Silva, Jaishankar called for a “stable and predictable environment for trade and investment,” arguing that global commerce must remain “fair, transparent and to everyone’s benefit.” His intervention comes against the backdrop of Washington’s steep 50% tariffs on both India and Brazil, and an additional 25% duty on Indian goods tied to its energy dealings with Moscow.

“The state of the world today is a cause for genuine concern,” Jaishankar said, citing the Covid-19 pandemic, conflicts in Ukraine and West Asia, climate extremes, slowing SDG progress, and faltering multilateral systems. “Increasing barriers and complicating transactions will not help. Neither would the linking of trade measures to non-trade matters.”

While stressing the need for cooperative approaches, he urged BRICS members—including China and Russia—to lead by example in reviewing trade flows within the bloc. “Some of our biggest deficits are with BRICS partners. We have been pressing for expeditious solutions,” he said.

Jaishankar also underscored the importance of building more “resilient, reliable, and shorter supply chains,” decentralising manufacturing, and encouraging regional self-sufficiency to cushion economies from geopolitical shocks.

On security and diplomacy, he said ongoing conflicts have had “direct developmental and supply chain implications,” hitting the Global South hardest in food, energy, and fertiliser access. “Where shipping is targeted, not just trade but livelihoods also suffer. A selective protection cannot be a global answer. An early end to the hostilities and diplomacy for a durable solution is the obvious pathway before us,” he said.

The minister’s strong words reflect India’s balancing act—resisting US pressure while deepening its engagement with BRICS partners, even as New Delhi remains wary of Beijing’s approach to shaping a multipolar Asia.