COMMENTARY:
BRICS is a term that first started being used about twenty-five years ago to refer to the emerging economies of Brazil, Russia, India, and China. In 2009, on Russia's invitation, the four BRIC nations held their first summit and formed what was then considered an alternative to the G7 bloc of nations. In subsequent years, and through 2025, the nations of South Africa, Indonesia, Iran, Egypt, Ethiopia, and the United Arab Emirates all joined the BRICS club. BRICS rolled out initiatives such as financial cooperation, economic cooperation, communication systems, and raising the members' living standards. Through the years, BRICS has been viewed as a bloc of nations that have formed because of their desire to push back on U.S. and western influence throughout the world.
While BRICS initially showed strong promise as a trade and diplomatic bloc, its accomplishments since its founding have been few. Jim O'Neill, a financier for Goldman Sachs who originally coined the phrase BRICS and saw great promise in the group, has changed his viewpoint. He now states that he considers BRICS a failed project, and a bloc that mainly issues statements but then does not back them up. The diversity of BRICS members’ economies, histories, cultures, and objectives have conflicted, thus preventing BRICS from becoming one of the world's premier trade or diplomatic blocs. Mistrust of the U.S. and the West is the common thread that seems to keep BRICS afloat.
Because of this mistrust, the powerful western nations, with the exception of Brazil, have generally avoided attending any BRICS summits or policy discussions, until now. Mexico was sent an invitation, and accepted to attend the latest BRICS summit which took place in Rio de Janeiro, Brazil, in early July. Mexico has denied that it intends to join BRICS, and attended the summit as an observer. As Mexico's representative at the summit, Minister of Foreign Affairs Juan Ramon de la Fuente met countries such as Brazil, with which Mexico has expressed its objective of deepening relations. Mexico also has expressed its interest in strengthening its relations with India. The BRICS summit allowed Mexico to hold talks with countries of interest in one place under the cover of a summit, without having to make individual diplomatic trips to each nation, which could raise suspicion as to its intentions.
However, Mexico's attendance at the BRIC summit surely has other objectives. President Trump has threatened the imposing of new tariffs on Mexico. Back in March, Trump did impose tariffs on Mexico, but then quickly removed most of them as the stock market tanked and the trade community, which heavily depends on trade with Mexico, pushed back. In 2026, the U.S.-Mexico-Canada-Agreement (USMCA) is up for review and extension. Given Trump's on again-off again tariff policy and disregard for existing trade agreements, Mexico is surely putting out its feelers for Plan B if the USMCA craters, and tariffs are imposed on Mexico's imports to the U.S. Last year, Mexico had more than $500 billion in exports to the U.S. This represented more than 80 percent of its total exports. This strong dependence on the U.S. to buy Mexican exports is haunting Mexico, now that it does not have a strong ally in the White House.
Furthermore, I believe that Mexico's attendance at the BRICS summit was a way to show Trump that Mexico has trading options with other nations. This is logical after the accusations by Trump that Mexico, through its trade surplus that it runs with the U.S. and its ability to produce many products more economically, has been "taking advantage of the U.S." This is a dangerous position in which to put Mexico. I still remember the days when Mexico was deeply suspicious of the U.S. and viewed its northern neighbor as a warmonger, stealer of lands, and even racist. During the last 30 years in which the North American Free Trade Agreement and the USMCA have been in existence, the U.S. and Mexico have strengthened not only their trade relationship, but their diplomatic relationship as well. Mexico negotiated the USMCA in good faith with the U.S. and Canada. I can’t imagine that it does not feel slighted to be treated not as a partner, but as an adversary. Attending the BRICS summit is logical for these reasons.
And the reality of Mexico ever seeking and being granted member status in BRICS? This is probably not going to happen. The U.S. would not want a neighbor collaborating closely with nations with which it is at odds. Even though Mexico is an independent nation that makes its own decisions, it certainly would not want to upend the already delicate trade relationship it has with the U.S. The temptation of joining BRICS is far outweighed by Mexico’s need to make sure that the USMCA is preserved for the future benefit of all three North American nations.
Jerry Pacheco is the president of the Border Industrial Association. Jerry Pacheco's opinions are his own and do not necessarily reflect the viewpoints of KRWG Public Media or NMSU.