BRICS: China Eyes EU Partnership to Counter US ‘Abuse’
With geopolitical tensions reaching a fever pitch, the BRICS economic alliance has found itself at the center, as China is eyeing a new European Union (EU) partnership in order to counter what it calls ‘abuse’ from the US. Indeed, the nation is now facing up to 245% tariffs from the United States, according to a recent White House update.
The ongoing tensions have led to a tariff war between both sides that may be set to wreak havoc on the global economy. Indeed, JPMorgan CEO Jamie Dimon has been among the voices calling for a resolution. Specifically, he questions how much damage an ensuing trade war could do to the Western power and its global standing.
Also Read: BRICS: When Barack Obama Predicted the US Dollar’s Future
China Looking to the EU as US Tensions Grow by the Day
There is no denying that the global economy is in an increasingly compromised state amid geopolitical tensions. The United States debuted its Liberation Day tariff plan. Although that original policy has been paused, it has instituted increasing import duties on China. Now, all signs are pointing to a trade war that could threaten both sides.
With battle lines being drawn, the search for allies has already commenced. Subsequently, along with its BRICS allies, China is looking to the EU to help combat the US economic policy, and what it calls ‘abuse.’ Indeed, reports come a day after Chinese officials called the country’s actions ‘extremely shameless’.
Also Read: BRICS: US Dollar Keeps Falling as Trade War Fears Grow
According to a Reuters report, China is looking to strengthen its cooperation with the European Union. Specifically, it wants to increase dealings with the bloc as its US relations have gone sour. China’s ambassador to Spain, Yao Jing, recently discussed its growing efforts.
“We should put our focus on partnership. China will never be a threat or any kind of enemy to the EU,” Yao said. Moreover, they praised the bloc’s “multilateral approach to foreign affairs” and its opposition to US President Donald Trump’s policy.
The move could have massive implications for a brewing trade war. The EU and the US have been, to this point, unable to negotiate a new trade deal that would avoid the rising import duties. However, they have made more headway than the US and China. If the growing partnership between tariff-affected nations grows, the United States could continue decoupling itself from the world.
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BRICS: China Eyes EU Partnership to Counter US ‘Abuse’
With geopolitical tensions reaching a fever pitch, the BRICS economic alliance has found itself at the center, as China is eyeing a new European Union (EU) partnership in order to counter what it calls ‘abuse’ from the US. Indeed, the nation is now facing up to 245% tariffs from the United States, according to a recent White House update.
The ongoing tensions have led to a tariff war between both sides that may be set to wreak havoc on the global economy. Indeed, JPMorgan CEO Jamie Dimon has been among the voices calling for a resolution. Specifically, he questions how much damage an ensuing trade war could do to the Western power and its global standing.
Also Read: BRICS: When Barack Obama Predicted the US Dollar’s Future
China Looking to the EU as US Tensions Grow by the Day
There is no denying that the global economy is in an increasingly compromised state amid geopolitical tensions. The United States debuted its Liberation Day tariff plan. Although that original policy has been paused, it has instituted increasing import duties on China. Now, all signs are pointing to a trade war that could threaten both sides.
With battle lines being drawn, the search for allies has already commenced. Subsequently, along with its BRICS allies, China is looking to the EU to help combat the US economic policy, and what it calls ‘abuse.’ Indeed, reports come a day after Chinese officials called the country’s actions ‘extremely shameless’.
Also Read: BRICS: US Dollar Keeps Falling as Trade War Fears Grow
According to a Reuters report, China is looking to strengthen its cooperation with the European Union. Specifically, it wants to increase dealings with the bloc as its US relations have gone sour. China’s ambassador to Spain, Yao Jing, recently discussed its growing efforts.
“We should put our focus on partnership. China will never be a threat or any kind of enemy to the EU,” Yao said. Moreover, they praised the bloc’s “multilateral approach to foreign affairs” and its opposition to US President Donald Trump’s policy.
The move could have massive implications for a brewing trade war. The EU and the US have been, to this point, unable to negotiate a new trade deal that would avoid the rising import duties. However, they have made more headway than the US and China. If the growing partnership between tariff-affected nations grows, the United States could continue decoupling itself from the world.
Читать больше