Business Department website news, on May 12th, the BRICS presidency Brazil organized a special video conference of the economic and trade contact group at the director-general level. They had in-depth discussions around the global trade tensions caused by the US unilateral "reciprocal tariff" policy, supporting the multilateral trading system, and jointly resisting unilateralism and trade protectionism.
China expressed at the meeting that the US recently introduced the so-called "reciprocal tariff" policy, which not only violates the basic principles of the WTO but also undermines the multilateral trading system, seriously infringing upon the legitimate rights and interests of various countries, especially depriving developing countries of their basic development rights. China is willing to work with BRICS members to jointly cope with the impact brought by US unilateral measures on the global trading order, support the multilateral trading system and free trade, and inject more positive energy and certainty into global development. China called on BRICS countries to restrain the use of trade restriction measures under the current circumstances, smooth out economic and trade cooperation, and create more welfare for enterprises and people of all parties.
Multiple BRICS members expressed serious concerns about the unilateral measures such as "reciprocal tariff", believing that these measures have caused serious negative impacts on the world economy and international trade, especially bringing strong shocks to the development of "Global South" countries. They urged BRICS countries to join hands to respond to the current global trade tensions, strengthen position coordination at the BRICS economic and trade ministers' meeting, play the role of the WTO platform, and send a common voice to uphold the multilateral trading system and oppose unilateralism and protectionism, thus maintaining the common interests of developing countries through concrete actions.
Original article: https://www.toutiao.com/article/7504263050120282660/
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