G7 Decries 'Economic Coercion' in Swipe at China
The ministers said arbitrary export curbs on critical minerals can disrupt supply chains and weaken economic security and resilience.
- The Group of Seven trade ministers met Wednesday in Evian, France, criticizing "economic coercion" by powers using arbitrary export restrictions on critical minerals, a clear swipe at China.
- They denounced "pervasive, opaque and harmful industrial subsidies" and market-distortive practices by state-owned enterprises, tensions that have persisted for years in sectors including steel and solar panels.
- The World Trade Organization has been paralyzed by the United States for years, while ministers also discussed rapid e-commerce growth "which raises increasing challenges" for customs and fair competition.
- To reduce dependency on rare earths, they vowed to "seek to deter and stand ready to take actions, where necessary, against economic coercion," ensuring weaponized dependencies fail.
- Supply of rare earths is expected to be a key discussion point next week when President Donald Trump and his Chinese counterpart Jinping meet in Beijing for a bilateral summit.
28 Articles
28 Articles
G7 trade ministers criticize 'economic coercion' in swipe at China
The trade ministers of the Group of Seven leading industrialized nations Wednesday criticized "economic coercion" by powers placing arbitrary restrictions on exports, particularly critical minerals, in a clear…
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G7 decries 'economic coercion' in swipe at China
The trade ministers of the Group of Seven leading industrialised nations Wednesday criticised "economic coercion" by powers placing arbitrary restrictions on exports, particularly critical minerals, in a clear swipe at China.
In the face of "economic coercion", G7 Trade Ministers agreed on Wednesday to "moldify" their response to global imbalances.
"We recognize that the rules agreed within the WTO are essential to facilitate world trade," said Ministers The post The G7 denounces the "economic coercion" in a spade addressed to China appeared first on Euractiv FR.
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