China responds to Trump's trade duty threats

China has reiterated its commitment to fostering practical cooperation with BRICS partners to ensure the stability and reliability of the global economy, following recent threats from former US President Donald Trump regarding trade duties on BRICS nations.

At a press briefing, Chinese Foreign Ministry spokesman Lin Jian addressed Trump's comments about imposing 100% trade duties on goods from BRICS countries if they create a new currency or move away from the US dollar, Caliber.Az reports referencing foreign media.

Lin expressed China's willingness to continue working with BRICS members to deepen cooperation across various sectors, contributing to the sustainable and stable growth of the global economy.

“BRICS aims for common development and prosperity. The organization advocates for openness, inclusiveness, and win-win cooperation. It does not engage in bloc confrontation,” Lin stated, adding that the group’s interactions are not aimed at opposing other nations.

Trump's remarks, made on Truth Social, suggested drastic trade measures in retaliation for any move by BRICS to establish a new currency or abandon the dollar. This follows a broader trend of economic tension between the US and China, which has seen escalating trade restrictions.

In a separate move, China has responded to new US trade restrictions by banning the export of dual-use goods, which can be used in both semiconductor manufacturing and military applications. The Chinese Ministry of Commerce announced that it would no longer allow shipments of goods such as gallium, germanium, stibium, and superhard materials to the US It will also impose stricter controls on graphite-related goods, which are essential in semiconductor production and military technologies, including ammunition.

This action is seen as China’s response to the US efforts to hinder the development of its semiconductor industry. Recently, the US expanded its list of Chinese companies subject to export controls, including firms that manufacture equipment for computer chips and related software. Of the 140 companies added to the list, most are based in China, though some are also located in Japan, South Korea, and Singapore.

China's Ministry of Commerce criticized the US restrictions as a "typical act of economic coercion and non-market practice," further highlighting the ongoing trade tensions between the two countries.

By Tamilla Hasanova