Will Canada and Mexico join BRICS in 2024 to eliminate the US dollar? The question is sparking global debate as the landscape of international finance shifts. Discover the global movement as 39 countries unite to embrace BRICS and leave behind the reliance on the US dollar. Is it possible? While neither country has formally applied, the growing interest in alternatives to the US dollar, especially within Latin America, fuels speculation.

BRICS is moving to eliminate the dollar’s hold on international trade. This initiative, spearheaded by Brazil, Russia, India, China, and South Africa, aims to create a new financial order, potentially diminishing the dollar's dominance. Given the recent expansion of the “BRICs” countries to include five new members (Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE), the bloc’s economic influence is undeniably growing.

For Canada and Mexico, joining BRICS would be a complex decision, considering their deep economic ties with the United States. However, b The world is seeing a growing trend toward de-dollarization, driven by concerns about US monetary policy and geopolitical risk. If BRICS currency captures the Latin American markets, the U.S. dollar could face significant challenges. The adoption of a BRICS currency, or increased trade in local currencies, could reduce reliance on the dollar in trade between these nations and other countries. The likelihood of Canada and Mexico fully committing to this shift in 2024 remains low, but the global conversation around diversifying away from the US dollar is gaining momentum and is a trend to watch closely.