President Donald Trump said there would be no exceptions to his latest tariff policy.<\/b>
\nChina said BRICS does not seek confrontation or target any country after U.S. President Donald Trump threatened a new 10 percent tariff.
Trump said in a July 6 post on Truth Social that the additional levy would hit any country «aligning themselves with the Anti-American policies of BRICS», an economic group of developing countries. He said there would be no exceptions.
It is formed of 11 countries: Brazil, Russia, India, China, South Africa, Saudi Arabia, Egypt, United Arab Emirates, Ethiopia, Indonesia, and Iran. They their 17th BRICS summit in Brazil at the weekend.
«BRICS is an important platform for cooperation among emerging markets in developing countries», said Mao Ning, a spokeswoman for the Chinese foreign ministry, at her press briefing on July 7.
«It advocates openness, inclusiveness, and willing cooperation. It is not a bloc for confrontation, nor does it target any country.
«On the U.S. tariff hikes, China has made its position clear more than once. Trade wars and tariff wars have no winners, and protectionism leads nowhere.»
Trump had also said he would begin sending out tariff letters or announcing trade deals on July 7, as his 90-day pause on his reciprocal tariffs nears its conclusion.
China and the U.S. recently came to an agreement on trade that saw Washington loosen some of its restrictions and Beijing accelerate rare earth exports.
At their summit, the BRICS bloc condemned the increase in tariffs and attacks on Iran, but refrained from naming Trump.
The group’s declaration, which also took aim at Israel’s military actions in the Middle East, also spared Russia from criticism, and mentioned war-torn Ukraine just once.
The two-day summit was marked by the absences of two of its most powerful members.
China’s President Xi Jinping did not attend a BRICS summit for the first time since he became his country’s leader in 2012.
Russian President Vladimir Putin, who spoke via videoconference, continues to mostly avoid traveling abroad due to an international arrest warrant issued after Russia invaded Ukraine.
In an indirect swipe at the U.S., the group’s declaration raised «serious concerns» about the rise of tariffs, which it said were «inconsistent with WTO (World Trade Organization) rules.»
The BRICS added that those restrictions «threaten to reduce global trade, disrupt global supply chains, and introduce uncertainty.»
This is a breaking news story. Updates to follow.<\/p>\n