2 hrs ago
BRICS Adopts Delhi Declaration Criticizing Unilateral Tariffs
BRICS countries agreed on a statement called the Delhi Declaration.
The statement says some countries are using tariffs and other trade restrictions on their own.
BRICS says these actions can break World Trade Organization rules.
It also says they can make it harder for countries to trade with one another.
Supply chains could be disrupted, meaning goods may become harder to produce or move.
The declaration warns that poorer and developing economies could be hurt.
BRICS members said they want to strengthen the global trading system.
They also want the World Trade Organization to respond better to trade problems and the needs of developing countries.
BRICS adopted the Delhi Declaration by consensus.
The declaration expressed serious concern about unilateral tariff and non-tariff measures.
It said trade restrictions inconsistent with World Trade Organization rules threaten global trade and supply chains.
BRICS warned that protectionism presented as environmental policy could worsen economic disparities.
The group said it would work to make the World Trade Organization more responsive to developing economies and trade disruptions.
- Who
- BRICS members adopted the declaration.
- What
- They adopted the Delhi Declaration by consensus and criticized unilateral tariffs and other trade restrictions.
- Where
- Delhi, as identified by the declaration’s title.
- When
- Not specified in the article.
- Why
- The declaration says trade restrictions can reduce global trade, disrupt supply chains, increase uncertainty, and worsen economic disparities.
Key facts
- Declaration
- Delhi Declaration
- Decision
- Adopted by consensus
- Main concern
- Unilateral tariff and non-tariff measures
- Rules cited
- World Trade Organization rules
- Potential effects
- Reduced global trade, disrupted supply chains, and greater economic uncertainty
- Stated response
- Work together to strengthen the multilateral trading system
- Priority groups
- Emerging markets and developing economies
Quotes
BRICS Delhi Declaration
A joint declaration issued by the BRICS group
“We note that the multilateral trading system has long been at a crossroads.”
timesnownews.com
Sources
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