BRICS summit condemns protectionism in global trade - Dmitriev

Interfax, 27.07.2018

JOHANNESBURG. July 27 (Interfax) - The participants in the BRICS summit meeting being held in Johannesburg have condemned recent protectionist trends in global trade.

"The participants in the BRICS summit condemn prohibitions and protectionism in global trade. The BRICS countries have reached agreement on coordination of efforts for development of the economies of the participating states at the same time that trade wars inflict negative effects for the entire global economy," Russian Direct Investment Fund (RDIF) chief Kirill Dmitriev said on the sidelines of the BRICS summit meeting in Johannesburg.

"As a result of imposition by the U.S. of new tariffs on Chinese goods totaling $400 billion, higher tariffs on European cars and other restrictive measures, we estimate that global economic growth may slow by 0.4-0.5 percentage points in 2019-2020," said Dmitriev, who is Russia's representative on the BRICS Business Council.