Vice President and Minister of Development, Industry, Commerce and Services, Geraldo Alckmin, spoke on Friday (11) with China Minister Wang Wenta, around the economic and commercial agenda between countries and “They exchanged impressions on the ongoing tariff changes on the international scenario”.
“They converged on defending multilateralism and the rules -based international trade system, with the strengthening of the World Trade Organization (WTO),” says Alckmin’s advisory statement.
This Friday, the China has increased their tariffs on US imports (USA) to 125%in response to the decision of US President Donald Trump, to raise taxes on Chinese products to 145%, intensifying bets on a trade war that threatens to affect global supply chains.
China is the second largest economy in the world and the second largest product supplier to the US. At the same time the additional increase applied to the Chinese, Trump suspended, for 90 days, most of the reciprocal tariffs imposed on dozens of other countries.
The vice president and the Chinese minister also dealt with the opportunities and complementarities of the economies of both countries.
They also discussed the next meeting of BRICS Commerce Ministers, scheduled for May. Currently, the presidency of the bloc is exercised by Brazil.
China is an important economic partner in Braziland the two countries maintain strategic dialogue. One of the main instances of action is the Sino-Brazilian Commission of High Level of Concertation and Cooperation (Cosban), chaired by the vice-presidents of both countries.
This Friday’s video conferencing occurred at the request of the Chinese minister.
