Trump's 100% tariff threat: China says BRICS aims to cooperate rather than target 3rd countries

ANKARA

China said on Tuesday that the BRICS is an important platform for emerging markets and developing countries to cooperate rather than targeting third countries, according to state-run media.

During a regular press briefing, Chinese Foreign Ministry spokesperson Lin Jian responded to US President-elect Donald Trump's threat to impose a 100% tariff on BRICS nations in the event of dollar replacement, saying the group aims for mutual development and prosperity.

"BRICS, as an important platform for emerging markets and developing countries to cooperate, advocates openness and inclusiveness, win-win cooperation, non-confrontation and not targeting any third party," state-run Global Times quoted Lin as saying.

"China is willing to work with BRICS partners to deepen pragmatic cooperation in various industries and make more contributions for sustained global economic growth," she said.

On Saturday, Trump warned that he would impose a 100% tariff on any BRICS country that attempts to move from the US dollar in international trade.

He was referring to the economic alliance of Brazil, Russia, India, China, and South Africa – now expanded to include Iran, Egypt, Ethiopia, and the United Arab Emirates (UAE).

Meanwhile, Beijing has announced that it will strengthen export controls on dual-use items to the US under the Export Control Law and related regulations.

"These measures aim to protect national security, safeguard national interests, and fulfill non-proliferation obligations," said the Commerce Ministry.

Exports of dual-use items to or for military use in the US are prohibited under the most recent legislation.

Exports of dual-use items containing gallium, germanium, antimony, and superhard materials to the US will generally be prohibited.

The latest Chinese move came after the Biden administration announced on Monday that Washington had imposed new export controls on China, limiting the sale of cutting-edge semiconductor manufacturing equipment and high-bandwidth computer memory to the communist country, according to Voice of America.

On Monday, the Foreign Ministry spokesperson said Beijing protested to Washington on the latest chip curbs.

"The move has seriously damaged the international trade order and disrupted supply chain stabilization," Lin said, urging the US to abide by the laws of the market economy and the principles of fair competition.

*Writing by Islamuddin Sajid