NHK WORLD
Daily News
9. G7 trade ministers expected to outline measures on China's overcapacity
G7 trade ministers are expected to lay out measures to tackle China's overproduction of electric vehicles, solar panels and other strategic products.
The Group of Seven officials kicked off discussions on Tuesday in Italy.
NHK has seen their draft statement that makes no mention of China but appears to make veiled references to the country.
G7 leaders expressed the same concerns at last month's summit, claiming that China's practices are making other economies less competitive.
The trade ministers point to the summit's communique pledging to jointly respond to the overcapacity issue and enhance monitoring of non-market policies and practices.
The draft document also says that restrictions on exports of critical minerals should not disrupt supply chains.
It mentions a need to step up information-sharing and monitoring capabilities, as well as adhering to international environmental and other standards in mining and investment.
The draft statement denounces any attempt to weaponize economic dependencies as well as "economic coercion" aimed at pressuring partners through trade restrictions.
It says G7 members will work with other countries to respond to such pressure.
The trade ministers are expected to adopt their statement on Wednesday.
#.Back
(c)NHK