BRICS member nations have expressed “serious concern” regarding the United States’ reciprocal tariffs, according to China.Discussions took place during the BRICS Contact Group on Economic and Trade Issues meeting this week.
Beijing stated that the US tariffs have severely damaged the international trade system.
These actions have also disrupted global industrial and supply chains, impacting the world economy.
China urged BRICS members to maintain the course of globalization and protect the rule-based multilateral trading system.
The aim is to preserve global economic stability amidst rising trade tensions.
Several BRICS members stated that the US tariffs “seriously violate” World Trade Organization rules.
They also highlighted the potential negative consequences for global economic growth.
Developing countries’ interests could also be significantly harmed by these tariffs.
Separately, Chinese Commerce Minister Wang Wentao discussed the US tariffs and the WTO’s role with Director-General Ngozi Okonjo-Iweala.
China has already initiated legal action with the WTO in response to these tariffs.
The BRICS economic bloc includes Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates.