BRICS leaders recently reiterated the need to use local currencies in intra-BRICS trade to reduce reliance on the U.S. dollar. However, experts express skepticism about the bloc's ability to shift away from the dollar, citing a lack of financial and macroeconomic integration, wide trade imbalances, and deep distrust among key member states like China and India as major obstacles. Donald Trump previously threatened 100% tariffs if BRICS countries attempt to create a new currency or back alternatives to the dollar. While China and Russia settle nearly 90% of their trade in local currencies, this shift has been largely accelerated by U.S. sanctions rather than coordinated BRICS policy. The U.S. dollar still accounted for 89% of the forex market as of April.