Spokeswoman on Trump’s new tariff threat to BRICS nations

Foreign Ministry spokeswoman Mao Ning responded to U.S. President Donald Trump's threat to impose a 10 percent tariff on BRICS countries at a press briefing in Beijing on Monday.

Mao addressed a question regarding Trump's comments before the conclusion of the BRICS Summit in Rio de Janeiro, Brazil, on Monday, claiming BRICS countries pursuing anti-American policies.

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Spokeswoman on Trump’s new tariff threat to BRICS nations

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Spokeswoman on Trump’s new tariff threat to BRICS nations

"The BRICS mechanism is an important platform for cooperation among emerging markets and developing countries. It advocates openness, inclusiveness, and mutually beneficial cooperation. It does not engage in bloc confrontation and is not targeted at any specific country. As for the additional tariffs, we have reiterated our position many times that there are no winners in trade wars or tariff wars, and protectionism leads nowhere," Mao said.

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 20 pips to 7.0108 against the U.S. dollar Monday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.