BRICS countries deny intention to escalate tensions following Trump's proposed increase in tariffs.
In a joint statement issued during their summit in Rio de Janeiro, the BRICS (Brazil, Russia, India, China, and South Africa) leaders have expressed their deep concern about the increase in tariffs and other unilateral measures that contradict the principles of the World Trade Organization (WTO) and "distort trade."
The BRICS, an international organization for cooperation between emerging markets and developing countries, has not agreed upon abandoning the dollar as the reference for international trade, despite a previous threat by US President Donald Trump to impose a hundred percent tariff on BRICS countries for doing so.
In response to Trump's threats to impose an additional ten percent tariff on countries that align with the "anti-US policies" of the BRICS, the Chinese Foreign Ministry spokeswoman, Mao Ning, has stated that the BRICS advocate for openness, inclusivity, and mutually beneficial cooperation. She also emphasized that the BRICS do not engage in confrontation or act against any country.
Mao Ning's statements were reported by the Chinese newspaper 'The Paper'. She has also stated that the BRICS oppose trade wars and the use of tariffs as a tool of coercion and pressure. The arbitrary imposition of tariffs is not in the interest of any party, according to Mao Ning.
The BRICS have expressed concern about trade wars that could "plunge the world economy into recession or prolong weak growth." In their joint statement, they have condemned the sanctions and tariffs used as a political tool.
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Historically, when the United States has imposed tariff threats or actions, countries like China have often responded with a mix of diplomatic efforts and reciprocal measures. China typically engages in diplomatic negotiations to address trade issues, often involving high-level meetings and consultations to find mutually beneficial solutions. If diplomatic efforts fail, China might impose its own tariffs on U.S. goods to protect its domestic industries. This approach aims to balance the trade impact and often serves as a bargaining chip in negotiations.
The specific responses from China or other BRICS nations to Trump's tariff threats would depend on the nature of the threats and the broader geopolitical context. For a detailed understanding of China's response, it would be beneficial to look at specific official statements or actions taken by the Chinese government during that period.
- The BRICS, in their joint statement, have stated that they not only condemn the use of sanctions and tariffs as a political tool but also oppose trade wars due to their potential to hinder global economic progress.
- In response to Trump's threats of imposing tariffs on countries aligning with the "anti-US policies" of the BRICS, the BRICS, as a bloc, actively advocate for openness, inclusivity, and mutually beneficial cooperation, which are key principles often at odds with war-and-conflicts and political policies that distort international trade.
