27, July 2018
BRICS nations pledge enhanced economic cooperation in face of US tariff threats 0
The member states of BRICS, the association of five major emerging economies, have pledged to strengthen their economic cooperation as the US continues to beat the drum for trade war and unilateralism.
“We express concern at the spill-over effects of macro-economic policy measures in some major advanced economies,” the heads of the BRICS group — Brazil, Russia, India, China and South Africa – said in a joint statement on Thursday after meeting in Johannesburg for an annual summit.
They added that the multilateral trading system is facing unprecedented challenges, stressing the importance of an open world economy.
Addressing the 10th BRICS summit in South Africa on the second day of the talks, Chinese President Xi Jinping said, “We should stay committed to multilateralism”.
He further called on BRICS members states to deepen strategic partnership and open up the second “golden decade”.
The session, hosted by South African President Cyril Ramaphosa, was also attended by Brazilian President Michel Temer, Russian President Vladimir Putin, and Indian Prime Minister Narendra Modi.
Putin also addressed the summit, saying, “BRICS has a unique place in the global economy — this is the largest market in the world, the joint GDP is 42 percent of the global GDP and it keeps growing”.
“In 2017, the trade with our BRICS countries has grown 30 percent, and we are aiming at further developing this kind of partnership,” he said.
US President Donald Trump has said he is ready to impose tariffs on all $500 billion (428 billion euros) of Chinese imports, complaining that China’s trade surplus with the US is due to unfair currency manipulation.
Trump has slapped levies on goods from China worth tens of billions of dollars, as well as tariffs on steel and aluminum from the EU, Canada and Mexico.
The BRICS summit is taking place in Johannesburg between July 25 and 27. Heads of state or government from the five member states (Brazil, Russia, India, China and South Africa) are discussing areas of possible cooperation.
Source: Presstv
13, August 2018
Turkish president says Lira crash political plot against Ankara 0
Turkish President Recep Tayyip Erdogan has said the lira’s drop is a “political plot” against Ankara, and his country will begin to seek for new partners.
The lira’s crash was sparked by a disagreement with the United States over the detention of an American pastor in Turkey, which has even brought up questions over the future partnership between Washington and Ankara.
Turkey’s currency dropped some 16 percent to new record lows against the dollar on Friday.
“The aim of the operation is to make Turkey surrender in all areas, from finance to politics,” said Erdogan on Sunday.
“We are once again facing a political, underhand plot. With God’s permission we will overcome this,” he added.
Erdogan noted that his country would turn to other partners if this “economic war” goes on.
“Some close the doors and some others open new ones,” he added.
He further added that the only response to a country which chooses to sacrifices its strategic partnership and a half century alliance with a state with a population 81 million for the sake “terror groups” is “good-bye.”
“You dare to sacrifice 81-million Turkey for a priest who is linked to terror groups?,” he stressed.
Relations between the two NATO allies have taken a turn for the worse amid dispute over the detention in Turkey of US evangelical pastor Andrew Brunson on terrorism charges.
“They tell us to release the priest by Wednesday 6:00 pm, otherwise the sanctions will begin,” Erdogan added.
On Friday, US President Donald Trump announced to double steel and aluminum tariffs on Turkey, saying relations between Washington and Ankara “not good” as tensions mount between the two countries.
“I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar!” Trump said on Twitter.
“Aluminum will now be 20 percent and Steel 50 percent. Our relations with Turkey are not good at this time!” he added.
The United States is the world’s biggest steel importer. Washington slapped tariffs of 25 percent on steel and 10 percent on aluminum in March for imports from several countries, including Turkey.
Trump’s announcement came shortly after President Erdogan called on Turks to help defend the country against the US-launched economic war against his nation. Erdogan appealed to Turks to exchange dollars and gold for Turkish lira to support the plunging currency.
Ankara and Washington also disagree over their military interventions in the Syria war, Turkey’s plan to buy missile defense systems from Russia and the US conviction of a Turkish state bank executive on sanctions-busting charges in January.
On Saturday, Erdogan warned his country’s partnership with the United States might be in “jeopardy” as tensions intensify between the two NATO allies.
Source: Presstv