In swipe at US, BRICS hit out at trade protectionism - Tip News
In swipe at US, BRICS hit out at trade protectionism
14/11/2019 9:30 am
'Brazil's President Jair Bolsonaro(R) and China's President Xi Jinping shake hands before the 11th BRICS Summit at the Itamaraty palace on November 14, 2019 in Brasilia, Brazil' - By: POOL/AFP Pavel Golovkin
Five of the biggest emerging economies railed against protectionism on Thursday as they vowed to overcome "significant challenges" facing multilateralism, in a swipe at US tariffs and unilateral action.
In a joint declaration, BRICS countries -- Brazil, Russia, India, China and South Africa -- said "trade tensions and policy uncertainty have taken a toll on confidence, trade, investment and growth" in the global economy.
"It is critical that all WTO members avoid unilateral and protectionist measures," they said.
"We reiterate the fundamental importance of a rules-based, transparent, non-discriminatory, open, free and inclusive international trade."
The United States is locked in a protracted trade war with BRICS titan China, while it also has sanctions on Venezuela, whose President Nicolas Maduro is backed by Beijing and Moscow.
The statement, issued on the second day of the annual BRICS gathering, made no mention of the economic and political crisis raging in Venezuela -- an issue that has divided the emerging markets group.
Zimbabwean President Emmerson Mnangagwa on Tuesday warned he would "flush out" what he called "bad apples" as rights groups reported dozens of activists had been arrested in a broad crackdown on dissent.Mnangagwa, who took over from longtime ruler Robert M
President Donald Trump has launched a battle against mail-in voting in the 2020 elections, which health experts say is crucial to limiting the spread of coronavirus, but which he fears would favor Democratic rival Joe Biden.Facing an uphill fight for reelectio
The suspected teenage mastermind of a huge Twitter hack pled not guilty Tuesday to allegations he hijacked celebrity accounts to swindle people out of more than $100,000 in a cryptocurrency scheme.The 17-year-old Tampa, Florida resident pled not guilty before
Belarus leader Alexander Lukashenko on Tuesday accused the opposition and Russia of planning violent unrest and vowed to defend his regime as early voting began in presidential elections.The 65-year-old has ruled over the ex-Soviet country wedged between Russi