"No Winners..." China Reacts As Trump Threatens to Slap Extra 10% Tariff On 'Anti-US' BRICS Allies
China said on Monday (July 7) that BRICS, the grouping that also includes Brazil, Russia and India, was not seeking "confrontation" after US President Donald Trump vowed to impose an extra 10 percent tariff on countries aligning with the bloc."Regarding the imposition of tariffs, China has repeatedly stated its position that trade and tariff wars have no winners and protectionism offers no way forward," foreign ministry spokeswoman Mao Ning said.Trump said he would send the first tariff letters to various countries on Monday (July 7), days before his deadline for trading partners to reach a deal expires.He said on Sunday (July 6) he would send a first batch of up to 15 letters, warning that US levies on imports would snap back to the high levels he set in April if countries failed to make agreements.And, in a post on his Truth Social network, he threatened a further 10 percent tariff on countries aligning themselves with the emerging BRICS nations, accusing them of "anti-Americanism" after they slammed his tariffs at a summit in Rio de Janeiro on Sunday. n18oc_world n18oc_crux0:00 INTRODUCTION3:26 NO WINNERS IN TRADE AND TARIFF WARS, CHINA WARNS 4:16 TRUMP DELAYS IMPOSITION OF TARIFFS UNTIL AUGUST 1
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