In the Chair’s summary of the two days meeting of the G7 finance ministers and central bank governor’s over the weekend, it’s written that there was unanimous concern over recent trade actions of the US.
The statement said that “concerns were expressed that the tariffs imposed by the United States on its friends and allies, on the grounds of national security, undermine open trade and confidence in the global economy.”
And, “Finance Ministers and Central Bank Governors requested that the United States Secretary of the Treasury communicate their unanimous concern and disappointment.”
Also, there was exchanges on the benefits of an open rules-based trading system. At the same time “many highlighted the negative impact of unilateral trade actions by the United States”. And the finance ministers and central bank governors urged to continue the discussion at the “leaders’ Summit in Charlevoix, where decisive action is needed”, “to restore collaborative partnerships to promote free, fair, predictable and mutually beneficial trade.”
It also noted that “members continue to make progress on behalf of our citizens, but recognize that this collaboration and cooperation has been put at risk by trade actions against other members.
Full statement here.
