ANC slams 'dominant economic powers' amid looming US tariff hikes

06 December 2018 - 12:38 By Amil Umraw
ANC secretary-general Ace Magashule.
ANC secretary-general Ace Magashule.
Image: Supplied

The ANC has added its voice to ongoing concerns over US President Donald Trump's  decision to impose higher trade tariffs on China.

Speaking at the close of the Brics political parties plus dialogue in Tshwane on Thursday, ANC secretary-general Ace Magashule said the party called for an end to protectionism by "dominant economic powers".

"In the past three days we have reaffirmed our commitment to a rule-based international system of governance against attempts to undermine and weaken it," said Magashule.

"We have said that international agreements arrived at must be honored because the rule of law is paramount for international stability.

"The reform of institutions of global governance - from the United Nations Security Council to the International Monetary Fund and the World Bank - is long overdue and if achieved will galvanise justice and fairness in the way global governance is managed.

"For us, shared global prosperity means that the international system must be geared towards achieving inclusive growth and development. It must be an inclusive process by all of the world's nation-states.

"We call for an end to protectionism and other measures undertaken by dominant economic powers, because they distort international trade and investment, thus undermining efforts to achieve economic sovereignty for all nations."

Magashule said tariff and non-tariff barriers are "a matter of deep concern".

No country will make itself great by causing others to diminish.
Ace Magashule

"We reject the idea that countries must pursue their self-interests at the cost and to the detriment of our shared prosperity. No country will make itself great by causing others to diminish," he said.

"We can therefore not be dictated to by one actor in these dominant, hostile realities of the world of capitalism. This is where people-to-people relations become critical as an instrument of nation-building and formation.

"Brics must rise to the occasion and allow popular participation by all sectors in the process of transformation - a new dimension that will make Brics a powerful bloc in global socio-economic relations," said Magashule.

The recent Brics dialogue brought together 200 delegates from member states and other fraternal parties from across the continent.


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