Gathered in Fasano, Italy, on Friday, 14 June, the leaders of the G7 countries were on track to adopt a joint statement in which they notably target China and its unfair trading practices.
They were intending to express that they are concerned about Chinese practices, which have “global spillovers, market distortions and harmful overcapacity in a growing range of sectors”, according to a draft of the declaration that was seen by AFP.
At issue are notably not only Chinese dumping and Beijing’s massive public subsidies in strategic sectors, such as metals, but also the technologies needed for the green and digital transitions.
This behaviour has gained more attention on the international stage in recent months, according to a European diplomat who expected to see China’s case be widely discussed at Fasano.
The leaders of the G7 countries had already prominently featured this country and its trade practices in their statement in 2023 (see EUROPE 13185/23). Shortly afterwards, Beijing introduced export restrictions on germanium and gallium—two critical minerals—in May 2023.
This year, G7 countries are expected to respond by calling on China to “refrain from adopting export control measures, particularly on critical minerals, that could lead to significant global supply chain disruptions”.
China is being targeted not only for its trade practices but also for its role in Russia’s military aggression against Ukraine, which reportedly supports the Russian war effort. The G7 statement is expected to call on Beijing “to cease the transfer of dual-use materials, including weapons components and equipment, that are inputs for Russia’s defence sector”, according to AFP.
See the G7 leaders’ communiqué : https://aeur.eu/f/co1 (Original version in French by Léa Marchal)