Reported about 10 hours ago
G-7 finance ministers, led by Canada's Francois-Philippe Champagne, are discussing the implementation of tariffs on low-value Chinese products due to concerns over market oversaturation. The agenda includes coordination on tackling overcapacity and addressing non-market trading practices, particularly as accusations surface against Chinese platforms like Temu and Shein for flooding markets with cheap goods. The U.S. has already removed a tariff exemption allowing low-value goods to enter duty-free, prompting fears that Chinese exports may shift to other markets, undermining local producers. Additionally, the G-7 will consider changes to the price cap on Russian oil amidst ongoing sanctions discussions.
Source: YAHOO