Ramaphosa said the world is witnessing 'seismic shifts in global trade'.
Leaders of the 11-member Brics bloc have railed against economic protectionism and “tariff blackmail”, with President Cyril Ramaphosa warning that the tariffs pose great hardships and dangers for the countries of the Global South.
The group of emerging economies met via videoconference at the initiative of Brazil’s President Luiz Inácio Lula da Silva, whose office said it was necessary to address the “intensification of unilateral measures.”
Russian President Vladimir Putin also took part in the virtual meeting days after gathering with China’s Xi Jinping, North Korea’s Kim Jong Un and India’s Narendra Modi in China, where regional leaders slammed America’s “bullying behaviour.”
Tariffs
US President Donald Trump hit South Africa with a 30 per cent tariff, the highest in sub-Saharan Africa.
Trump, who has repeatedly cited debunked claims of a “genocide” of white South Africans and farmers, will not attend the G20 summit in Johannesburg in November this year.
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‘Seismic shifts’
Ramaphosa said the world is witnessing “seismic shifts in global trade that present both challenges and opportunities in the re-ordering of the global economy.”
“There is a shift from a unipolar to a multipolar world. This moment is marked by intensifying global competition and growing geopolitical tensions.
“Unilateral tariff actions are contributing to an increasingly protectionist environment, which poses great hardships and danger for the countries of the Global South. The uncertainty of the new trading regime has already negatively affected employment levels in my own country, South Africa, and is an obstacle to our economic growth,” Ramaphosa said.
China
During the briefing, Jinping called for the upholding of “the multilateral trading system with the World Trade Organisation at its core” and for rejection of “all forms of protectionism.”
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Tensions between the United States and China, the world’s two biggest economies, resulted in tit-for-tat duties that reached triple digits earlier this year before being reduced again.
Brazil
Lula said Trump is punishing Brazil for what he called a “witch hunt” against his right-wing ally, former president Jair Bolsonaro, who is on trial for allegedly plotting a coup to take power back from Lula after losing the 2022 elections.
A verdict in the trial is expected this week, AFP reported.
“Tariff blackmail is being normalised as an instrument to conquer markets and interfere in domestic affairs,” Lula said.
Global growth
Ramaphosa said that as Brics, the leaders need to reflect on their role in shaping global growth, addressing global poverty and championing multilateralism.
“We should use our growing voice to advance a global order that improves the lives of all the world’s people and safeguards the planet for future generations. Let us shape a new paradigm of multilateral cooperation anchored in equity, sustainability and development, but also anchored in peace.
“That is why South Africa supports the call by Brazil for a ceasefire in Gaza, a two-state solution and self-determination for the Palestinian people,” Ramaphosa said.
Ramaphosa said Brics countries must use their institutions to drive development across Africa and the Global South.
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