BEIJING: China mentioned on Monday (Jul 7) that BRICS, the grouping that additionally contains Brazil, Russia and India, was not looking for “confrontation” after United States President Donald Trump vowed to impose an additional 10 per cent tariff on nations aligning with the bloc.
“Relating to the imposition of tariffs, China has repeatedly acknowledged its place that commerce and tariff wars don’t have any winners and protectionism affords no approach ahead,” overseas ministry spokeswoman Mao Ning mentioned.
Trump mentioned he would ship the primary tariff letters to numerous nations on Monday, days earlier than his deadline for buying and selling companions to succeed in a deal expires.
He mentioned on Sunday he would ship a first batch of as much as 15 letters, warning that US levies on imports would snap again to the excessive ranges he set in April if nations didn’t make agreements.
And, in a submit on his Reality Social community, he threatened an extra 10 per cent tariff on nations aligning themselves with the rising BRICS nations, accusing them of “anti-Americanism” after they slammed his tariffs at a summit in Rio de Janeiro on Sunday.
Conceived 20 years in the past as a discussion board for fast-growing economies, BRICS has come to be seen as a Chinese language-driven counterbalance to US and Western European energy.
Nonetheless, Beijing defended the grouping on Monday as “an vital platform for cooperation between rising markets and growing nations”.
“It advocates openness, inclusivity and win-win cooperation,” Mao mentioned.
“It doesn’t have interaction in camp confrontation and isn’t focused at any nation,” she mentioned.
