Xi says China, Brazil can model ‘self-reliance' for Global South
Leaders seek to defend multilateral trading system amid geopolitical challenges
BEIJING: China's President Xi Jinping told his Brazilian counterpart Tuesday the two countries could set an example of 'self-reliance' for emerging powers, as trade and geopolitical challenges mount.
The two leaders have both sought in recent months to present their countries as staunch defenders of the multilateral trading system—in stark contrast with US President Donald Trump's tariff onslaught. Xi's call with Brazilian President Luiz Inacio Lula da Silva on Tuesday came just hours after Trump announced another 90-day pause to blistering tariffs on China.
It also followed indications from Lula last week he planned to speak with the leaders of India and China to consider a coordinated response to US trade measures. Xi told Lula that ties between China and Brazil are now at an all-time high, according to state news agency Xinhua.
He said China would 'work with Brazil to set an example of unity and self-reliance among major countries in the Global South' and 'jointly build a more just world and more sustainable planet', according to Xinhua. Xi added that 'all countries should unite and firmly oppose unilateralism and protectionism', Xinhua reported—a thinly veiled reference to US tariffs.
A statement by the Brazilian presidency said the phone call lasted about an hour, during which time Lula and Xi discussed a range of topics including the war in Ukraine and combating climate change. 'Both agreed on the role of the G20 and BRICS in defending multilateralism', the statement said, referring to the Group of Twenty major economies and a bloc of emerging powers.
The leaders also 'committed to expanding the scope of cooperation in sectors such as health, oil and gas, digital economy and satellites', the statement added. Beijing has worked in recent years to court Latin America as a way of countering Washington—historically the most influential major power in the region.
China has surpassed the United States as Brazil's largest trading partner, and two-thirds of Latin American countries have signed up to Xi's Belt and Road infrastructure drive. Brazil exports large quantities of soybeans to China, which—as the world's largest consumer of the ingredient—relies heavily on imports for its supply. But Trump is seeking to encourage a shift in how China sources the commodity, used for livestock feed and to make cooking oil.
The US President said in a social media post Sunday that he hoped China will 'quickly quadruple its soybean orders', adding this would be a way to balance trade with the United States. Lula conducted a five-day state visit to China in May, when he told a forum for cooperation between Beijing and Latin America that his region did not want to 'start a new Cold War'. – AFP
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Kuwait Times
2 days ago
- Kuwait Times
US, China extend tariff truce for 90 days
WASHINGTON: China and the United States delayed higher tariffs on each other's imports for 90 days, hours before a trade truce between the world's two largest economies was due to expire Tuesday. US President Donald Trump signed an executive order on Monday that will 'extend the Tariff Suspension on China for another 90 days,' according to a post on his Truth Social platform. The White House said its halt on steeper tariffs will be in place until November 10. China also said it would continue suspending its earlier tariff hike for 90 days, starting August 12, while retaining a 10-percent duty, according to a joint statement. While the United States and China slapped escalating tariffs on each other's products this year, bringing them to prohibitive triple-digit levels and snarling trade, both countries in May agreed to temporarily lower them. As part of their truce that month, fresh US tariffs targeting China were reduced to 30 percent and the corresponding level from China was cut to 10 percent. Those rates will now hold until November—or whenever a deal is cut before then. In the executive order posted Monday to its website, the White House reiterated its position that there are 'large and persistent annual US goods trade deficits' and they 'constitute an unusual and extraordinary threat to the national security and economy of the United States.' The order acknowledged Washington's ongoing discussions with Beijing 'to address the lack of trade reciprocity in our economic relationship' and noted that China has continued to 'take significant steps toward remedying' the US complaints. Beijing, meanwhile, said it would 'take or maintain necessary measures to suspend or remove non-tariff countermeasures against the United States,' as agreed in Geneva in May. Trump-Xi summit? In Shanghai, China's commercial capital, residents welcomed the extended trade truce on Tuesday. 'I feel that negotiations will definitely steer the two countries toward a better direction,' said Zhang Xuan, a 25-year-old postgraduate student. Lin Peng, a commercial property leasing agent, told AFP he felt there would be more negotiations between the two nations as Trump is a 'businessman' and an escalated trade war would 'hurt his own interests too.' 'Beijing will be happy to keep the US-China negotiation going, but it is unlikely to make concessions,' warned William Yang, an analyst at the International Crisis Group. He believes China sees its leverage over rare earth exports as strong, and that Beijing will likely use it to pressure Washington. US-China Business Council president Sean Stein said the extension was 'critical to give the two governments time to negotiate an agreement,' providing much-needed certainty for companies to make plans. Since Trump took office in January, China's tariffs have essentially boomeranged, from the initially modest 10 percent hike in February, followed by repeated surges as Beijing and Washington clashed, until it hit a high of 145 percent in April. Now the tariff has been pulled back to 30 percent, a negotiated truce rate. A trade deal would 'pave the way for a Trump-Xi summit this fall,' said Asia Society Policy Institute senior vice president Wendy Cutler. But Cutler, herself a former US trade official, said: 'This will be far from a walk in the park.' Even as both countries reached a pact to cool tensions after high level talks in Geneva in May, the de-escalation has been shaky. Key economic officials convened in London in June as disagreements emerged and US officials accused their counterparts of violating the pact. Policymakers met again in Stockholm last month. Trump said in a social media post Sunday that he hoped China will 'quickly quadruple its soybean orders,' adding this would be a way to balance trade with the United States. China's exports reached record highs in 2024, and Beijing reported that their exports exceeded expectations in June, climbing 5.8 percent year-on-year, as the world's number-two economy works to sustain growth. — AFP
Kuwait Times
2 days ago
- Kuwait Times
Brazil to unveil help for its companies hit by US tariffs
RIO DE JANEIRO: A view of the Rio de Janeiro port with the Sugar Loaf mountain in the background in Rio de Janeiro, Brazil.- AFP RIO DE JANEIRO: Brazilian President Luiz Inacio Lula da Silva on Tuesday announced aid worth some $5.5 billion for companies hit by Donald Trump's trade tariffs, as part of a package of economic relief measures. Last Wednesday the 50-percent tariffs imposed by Washington went into effect on many Brazilian products. The duties impact key sectors of Latin America's largest economy, notably including coffee and meat, although the US president excluded some strategic exports such as orange juice, civil aircraft and fertilizer. Lula will launch his contingency plan during a ceremony in the capital Brasilia on Wednesday. 'Tomorrow I will sign a provisional measure creating a credit line of 30 billion reais for Brazilian companies that may suffer losses due to Trump's tariffs,' Lula told a local radio station. According to Brasilia, the new duties affect 36 percent of Brazil's exports to the United States, equivalent to $14.5 billion in 2024. The leftist leader said much of the $5.5 billion worth of assistance will be directed to small businesses, because 'large companies have greater resilience.' 'No one will be left helpless in the face of President Trump's taxes,' he added. 'We will ensure the survival of Brazilian companies.' The government will also prioritize domestic products and sourcing in its purchases and encourage plans to find new markets for impacted companies. Lula said Brazil was also considering reciprocal measures against the United States. Washington slapped the tariffs on Brazil in part because of the prosecution of Trump's right-wing ally Jair Bolsonaro, whose trial on charges of planning a coup has been slammed by the US president as a 'witch hunt.' Brazil filed a complaint with the World Trade Organization last Wednesday to challenge the US tariffs, but Lula said in the radio interview he remains 'ready to negotiate with the United States.' — AFP
Kuwait Times
3 days ago
- Kuwait Times
Xi says China, Brazil can model ‘self-reliance' for Global South
Xi says China, Brazil can model 'self-reliance' for Global South Leaders seek to defend multilateral trading system amid geopolitical challenges BEIJING: China's President Xi Jinping told his Brazilian counterpart Tuesday the two countries could set an example of 'self-reliance' for emerging powers, as trade and geopolitical challenges mount. The two leaders have both sought in recent months to present their countries as staunch defenders of the multilateral trading system—in stark contrast with US President Donald Trump's tariff onslaught. Xi's call with Brazilian President Luiz Inacio Lula da Silva on Tuesday came just hours after Trump announced another 90-day pause to blistering tariffs on China. It also followed indications from Lula last week he planned to speak with the leaders of India and China to consider a coordinated response to US trade measures. Xi told Lula that ties between China and Brazil are now at an all-time high, according to state news agency Xinhua. He said China would 'work with Brazil to set an example of unity and self-reliance among major countries in the Global South' and 'jointly build a more just world and more sustainable planet', according to Xinhua. Xi added that 'all countries should unite and firmly oppose unilateralism and protectionism', Xinhua reported—a thinly veiled reference to US tariffs. A statement by the Brazilian presidency said the phone call lasted about an hour, during which time Lula and Xi discussed a range of topics including the war in Ukraine and combating climate change. 'Both agreed on the role of the G20 and BRICS in defending multilateralism', the statement said, referring to the Group of Twenty major economies and a bloc of emerging powers. The leaders also 'committed to expanding the scope of cooperation in sectors such as health, oil and gas, digital economy and satellites', the statement added. Beijing has worked in recent years to court Latin America as a way of countering Washington—historically the most influential major power in the region. China has surpassed the United States as Brazil's largest trading partner, and two-thirds of Latin American countries have signed up to Xi's Belt and Road infrastructure drive. Brazil exports large quantities of soybeans to China, which—as the world's largest consumer of the ingredient—relies heavily on imports for its supply. But Trump is seeking to encourage a shift in how China sources the commodity, used for livestock feed and to make cooking oil. The US President said in a social media post Sunday that he hoped China will 'quickly quadruple its soybean orders', adding this would be a way to balance trade with the United States. Lula conducted a five-day state visit to China in May, when he told a forum for cooperation between Beijing and Latin America that his region did not want to 'start a new Cold War'. – AFP
