G-7 warns against unilateral actions that might undermine trade

The finance chiefs of the Group of Seven economies warned against “unilateral actions” that might undermine global trade, according to a statement by the Italian delegation. 

The G-7 highlighted the need to protect international commerce, “particularly given China’s enormous industrial capacity, including in sectors of strategic importance,” according to the statement sent by Italy’s finance ministry.  

US presidential candidate Donald Trump has pledged to raise tariffs on goods from China and elsewhere if he wins this year’s US election. 

The G-7 nations also committed to provide “adequate and strong” support for Ukraine for as long as necessary. 

Finance chiefs met Wednesday on the sidelines of a broader Group of Twenty, where they also discussed artificial intelligence, the fragmentation of global trade and international taxation.