NEW DELHI, September 12. /TASS/. BRICS nations see unilateral tariffs and non-tariff measures as a threat to global trade, according to the New Delhi Declaration adopted at the group’s 18th summit.
"The proliferation of trade-restrictive actions that are inconsistent with WTO rules, whether in the form of indiscriminate rising of tariffs and non-tariff measures, or protectionism under the guise of environmental objectives, threatens to further reduce global trade, disrupt global supply chains, and introduce uncertainty into international economic and trade activities, potentially exacerbating existing economic disparities and negatively affecting prospects for global economic development," the document reads.
The member states voiced "serious concerns about the rise of unilateral tariff and non-tariff measures which distort trade and are inconsistent with WTO rules."
"We will work together to enhance the WTO’s responsiveness to trade disruptions and the needs and priorities of emerging markets and developing economies," as well as to strengthen the multilateral trading system.