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Five of the largest emerging economies supported the multilateral system on Thursday and pledged to strengthen economic cooperation against US tariff threats and unilateralism.
BRICS Group Leaders – Brazil, Russia, India, China and South Africa met in Johannesburg for an annual summit dominated by the risk of a trade war waged by the United States, although the leaders did not publicly mention President Donald Trump. "We recognize that the multilateral trading system is facing unprecedented challenges," they said in a joint statement. We highlight the importance of an open world economy. "
Trump Tariffs
Trump is said to be ready to impose tariffs on all 500 billion dollars (428 billion euros) of imports Chinese, complaining that China's trade surplus with the United States is the result of unfair currency manipulation
Trump taxed tens of billions of dollars on Chinese goods, as well as rights on steel and aluminum from the EU, Canada and Mexico.] Xi and Putin
"We must remain committed to multilateralism" Chinese President Xi Jinping said on the second day of the talks. Closer economic cooperation for shared prosperity is the initial goal and priority of the BRICS. "
Russian President Vladimir Putin, who had a controversial meeting with Trump last week, echoed calls for closer links. "The BRICS occupy a unique place in the global economy: it is the largest market in the world, the common GDP accounts for 42% of global GDP and it keeps growing," said Putin [19659011]. trade with our BRICS countries has increased by 30%, and we aim to further develop this type of partnership.
Erdogan Assists
Turkish President Recep Tayyip Erdogan also participates in the summit as the current President of the Organization of Islamic Cooperation (OIC) and met with Putin on the Thursday
"Our bilateral relations certainly improve," said Putin's president, hailing the cooperation between the two countries in Syria and in economic affairs
Erdogan spoke in turn of " bilateral relations in rapid development ", according to the Kremlin, which did not elaborate.
The BRICS group, comprising more than 40% of the world's population, represents Some of the largest emerging economies, but it has struggled to find a unified voice
