China offers BRICS partner coffee lifeline
Beijing fast-tracked authorization of nearly 200 Brazilian firms after Washington slapped massive tariffs on the country’s products Read Full Article at RT.com
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Beijing fast-tracked clearance for 200 Brazilian firms after the US slapped massive tariffs on the South American country’s products
Beijing has authorized nearly 200 Brazilian companies to export coffee to the Chinese market amid escalating trade tensions between the South American nation and the US, according to the Chinese embassy in Brazil. The greenlight follows Washington’s decision to impose a hefty tariff on Brazilian coffee and other goods.
The 50% tariff, which took effect in late July, targets coffee and meat – two key sectors of Brazil’s economy. The move comes amid the broader trade war launched by US President Donald Trump against multiple countries.
”China has approved the authorization of 183 new Brazilian coffee companies to export to the Chinese market,” the embassy said Saturday in a post on Twitter, adding that the measure took effect on July 30 and will remain valid for five years.
