The G7 finance ministers and central bank governors reached a consensus on addressing global economic imbalances, specifically directing attention towards China's trade practices. Though traditional support for free trade was minimized, the leaders stated that sanctions against Russia could be increased if a ceasefire is not achieved. Nonmarket policies associated with trade imbalances were highlighted, particularly in relation to China, despite its omission from direct mentions. Overall, the gathering, held in the Canadian Rockies, showcased a more cooperative atmosphere compared to previous meetings amid rising tariff tensions.
Top finance officials from the world’s seven wealthiest democracies set aside differences on tariffs to address global economic imbalances and counter China’s trade practices.
The G7 finance ministers agreed that further sanctions on Russia could be imposed if Russia and Ukraine do not reach a ceasefire.
Although the communique did not explicitly mention China, it referenced nonmarket policies, which typically relate to China's export subsidies and currency policies.
The meeting of G7 officials appeared more congenial than previous tensions related to tariffs and trade policies involving the United States and Canada.
Collection
[
|
...
]