The G7 announced its plans on Thursday as officials met in the Rocky Mountains in Canada said there was a need for a common understanding of how “non-market policies and practices” could undermine international economic security.
Although the document did not name China, references to non-market policies and practices by the US and other G7 economies often cover China’s state subsidies and export-driven economic models.
The final communique called for an analysis of market concentration and international supply chain resilience.
“We agree to the importance of equal arenas and the broadly coordinated approach to addressing the harm caused by people who adhere to the same rules and lack transparency,” he said.
G7 participants condemned what Russia called “continuous brutal war” against Ukraine, saying that if efforts to achieve a ceasefire fail, they would explore all possible options, including “further strengthening of sanctions.”
MNA