BRICS: 'Indiscriminate increase' in tariffs disrupts global supply chains.
According to the statement issued by the group, restrictive actions have been announced in the form of protectionism or "under the guise of environmental objectives."
Rocio Paik, World Opera Without mentioning the United States, the BRICS countries condemned on Sunday (July 6th) the restrictions imposed on global trade, including the "indiscriminate increase in tariffs" and "non-tariff measures." According to the statement issued by the bloc's members this afternoon, such restrictive actions have been announced in the form of protectionism or "under the guise of environmental objectives."
"It threatens to further reduce global trade, disrupt global supply chains, and introduce uncertainty into international economic and trade activities, potentially exacerbating existing economic disparities and affecting the prospects for global economic development," the document noted.
The "tariff hike" imposed by Donald Trump's government, a highlight of his political agenda in his first year in office, was criticized by the BRICS countries, especially China, which has challenged the measure by launching new tariffs on American products as a form of retaliation, deepening the trade war between the two largest economies in the world.
Through the document, members of the Global South bloc reiterated their “serious concern” about the increase in unilateral tariff measures, arguing that they are, in fact, inconsistent with the regulations of the World Trade Organization (WTO). Therefore, they reinforced their support for a multilateral trading system that is “open, transparent, fair, and inclusive,” with the WTO as its foundation.
“We condemn the imposition of unilateral coercive measures contrary to international law and reiterate that such measures, in the form of, among others, unilateral economic sanctions and secondary sanctions, have far-reaching negative implications for human rights, including the rights to development, health and food security of the general population of the affected states, disproportionately affecting the poor and vulnerable people,” he stressed.
