China rejects Donald Trump's 100 percent Tariff TalkHot Buzz

January 23, 2025 14:13

Days after U.S. President Donald Trump said he would impose 100 percent tariffs on the JCPOA if member countries tried to limit the use of the dollar in trade, China said Thursday that the JCPOA does not support bloc competition. India has already said it has “no interest” in devaluing the dollar. Speaking at the Doha Forum in December last year, External Affairs Minister S. Jaishankar said India never wants to abolish the dollar and there is currently no proposal to retain a BRICS currency. “The United States is our largest trading partner. We have no interest in a weak dollar,” he said. A Chinese Foreign Ministry spokesman said today: "As an important platform for cooperation between emerging and developing countries, the JCPOA advocates openness, inclusiveness and win-win cooperation rather than bloc competition." Each third country "strives for common development and prosperity."

He added: China is willing to continue cooperation with BRICS partners to deepen practical cooperation in various fields and contribute more to the sustainable growth of the global economy. On January 20 this year, the President of the United States of America announced his intention to impose 100 percent tariffs on imports from the BRICS countries (Brazil, Russia, India, China and South Africa) if these measures are taken to reduce the use Dollar slowly seizes global trade President Trump said he would impose 100 percent tariffs on BRICS countries “if they even think about reducing the use of the dollar in global trade.” BRICS is an intergovernmental organization founded in 2011 and includes Brazil, Russia, India, China and South Africa. On January 1, 2024, Egypt, Iran, the United Arab Emirates, Saudi Arabia and Ethiopia also joined this group. Political, security policy, economic, financial and cultural issues are discussed on this platform. This country is considered equivalent to the G7 bloc of the world's largest economies. The BRICS countries have been the main engine of global economic growth.