Reported 5 months ago
French Finance Minister Bruno Le Maire has called for a unified assessment of China's industrial overcapacities within the Group of Seven (G-7) to protect the industrial interests of member countries and avoid being caught in a trade war. This comes as the US, China, and the EU prepare for assertive trade measures, with President Joe Biden imposing tariffs on Chinese exports, the EU investigating electric vehicle subsidies, and China signaling potential duties on American and European autos. Le Maire emphasized the importance of a clear assessment of China's overcapacity and collaboration within the G-7 to address the issue effectively, while urging to avoid a trade war for the benefit of all countries involved.
Source: YAHOO