BRICS Expresses Concern Over U.S. Tariffs
(MENAFN) During a recent meeting, China revealed that BRICS nations collectively addressed the issue of reciprocal tariffs imposed by the United States, expressing "serious concern" regarding the ongoing trade friction.
The discussions took place earlier in the week during the second session of the BRICS Contact Group on Economic and Trade Issues.
In a statement released by the Chinese Commerce Ministry, Beijing criticized the U.S. tariffs, stating they have "severely undermined the international trade system, disrupted global industrial and supply chains, and caused prolonged impact on the world economy."
The ministry highlighted that such measures are harming the broader framework of global commerce.
China also called upon BRICS members to "steadfastly adhere to the correct direction of globalization, jointly safeguard the multilateral trading system based on rules, and maintain global economic stability."
This appeal emphasized the need for unity in defending a fair and rule-based global trade environment.
According to the same statement, the BRICS countries also voiced "grave concern" over the "severe impact" of the tariffs on the established multilateral trading structure.
Several member states argued that the U.S. trade actions "seriously violate" World Trade Organization (WTO) rules.
They also warned of the possible detrimental consequences these penalties may have on "global economic growth" and "the interests of developing countries."
Additionally, Chinese Minister of Commerce Wang Wentao engaged in a virtual meeting with WTO Director-General Ngozi Okonjo-Iweala on Friday to further address the issue of U.S. reciprocal tariffs and discuss the role of the WTO in resolving such disputes.
China has initiated legal proceedings through the WTO in response to the tariffs, seeking resolution through formal channels.
BRICS, the international group at the center of these talks, comprises Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, as well as the United Arab Emirates.
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