The 50 per cent levies on most Brazilian exports are linked to what Trump has described as a “witch hunt” against his ally and former Brazilian President Jair Bolsonaro, who is on trial for allegedly plotting a coup.
US tariffs on Indian goods were doubled last month to as high as 50 per cent in response to India’s continued imports of Russian oil.
“Certain countries have launched trade wars and tariff wars, severely impacting the world economy and seriously undermining international trade rules,” Chinese leader Xi Jinping said during the meeting, according to China’s state-run news agency Xinhua.
The virtual meeting, which lasted one-and-a-half hours, brought together leaders from Brazil, Russia, India, China, South Africa, Egypt, Indonesia, Iran, the United Arab Emirates, and Ethiopia, Brazil’s government said in a separate statement.
The group discussed the risks posed by the resurgence of unilateral measures, particularly in international trade, and explored ways to strengthen mechanisms for solidarity, coordination, and trade among BRICS nations, the statement said.
Source: CNA
