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BUSINESS
In an attempt to downplay the US threat before the topmost officials of the two countries sit together to finalise the new trade deal, China has announced that the BRICS does not seek confrontation with any country, including the US. Beijing has responded with caution to Donald Trump's threat.
In an attempt to downplay the US threat before the topmost officials of the two countries sit together to finalise the new trade deal, China has announced that the BRICS does not seek confrontation with any country, including the US. Beijing has responded with utmost caution to US President Donald Trump's threat to impose an additional 10% tariff on countries aligning with the bloc's “anti-America” policies. According to news agency AFP, Chinese Foreign ministry spokeswoman Mao Ning said, "Regarding the imposition of tariffs, China has repeatedly stated its position that trade and tariff wars have no winners and protectionism offers no way forward."
Chinese MEA said this after US President Donald Trump warned countries adopting what he called "anti-American" BRICS policies. Analysts believe, he is angry also because the BRICS 2025 Summit in Brazil condemned the US-Israeli strikes on Iranian military and nuclear facilities as "illegal". However, Beijing slammed the use of tariffs as a means of political coercion. Responding to a question at a routine press briefing, Ning reiterated Beijing’s stance, and said, "The use of tariffs serves no one."
In a joint statement issued at the end of the BRICS 2025 summit in Brazil, the 10-member bloc condemned the US-Israeli airstrikes on Iranian nuclear and military facilities. It also criticised the "indiscriminate rising of tariffs". The BRICS consists of Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, South Africa, and the United Arab Emirates. Without naming the US, it said that such actions could jeopardise global trade and destabilize international supply chains.
Earlier on Sunday, Donald Trump announced to send the first tariff letters to various countries on Monday. It would be days before the deadline for trading partners to reach a deal expires. The US president also warned that the levies on imports would go back to the high levels he set in April if countries did not sign deals with Washington in the meantime. Trump on April 9, Trump announced a three-month pause on all the "reciprocal" tariffs so that separate tariff deals might be signed with all the trading partners.
The US announcement may impact India in many ways. India has held several rounds of talks and it is interested in signing a comprehensive trade deal with the US. India is also one of the founding members of the BRICS and it can not be left untouched if the US cracks the whip. Secondly, India is a strong competitor, or at least it wants to be one, to take on China in world trade, particularly the US. If the US hits India in any way, it may benefit China; the other way round is equally true. So, India may like Washington not to punish it for being the driving force behind the 10-member bloc. China may also think the same way.