G7 Ministers Discuss Trade Security and China Dependence

RRI.CO.ID. Jakarta - G.7 trade ministers met in Paris for a second day on Wednesday. They talked about trade, security, and how much the world depends on China for raw materials. The talks were tense because of US tariff threats and war in the Middle East.

At the same time, President Trump paused a US mission to protect ships in the Strait of Hormuz. This waterway is key for oil shipping. On Wednesday, French company CMA CGM said one of its ships was attacked there. Several crew members were hurt and the ship was damaged.

As reported by RFI, Ministers from Britain, Canada, France, Germany, Italy, Japan, and the US discussed four main topics. France is leading the G7 this year and picked these goals: fixing too much factory production, securing critical minerals, reforming the World Trade Organization, and managing online shopping across borders.

The US also threatened to raise tariffs on European cars and trucks. Last year, the US and EU agreed to cap car tariffs at 15 percent. But Trump said the EU did not follow the deal. US and EU officials planned separate meetings in Paris to talk about it.

A big issue is China’s control of critical minerals. These materials are used in electric cars, computer chips, wind turbines, and défense gear. France wants countries to work together to mine and process these minerals. It also plans to build its own rare-earth industry by 2030. The group also talked about trade rules.

The World Trade Organization has been weak for years because the US blocked its work. Ministers want to fix it so it fits today’s problems. They also want to tax small online packages. The US and EU are already adding duties on cheap parcels.

The G7 leaders will meet next in Evian from June 15 to 17. Ministers will hold another online meeting on Thursday to keep working before that summit.

Source : RFI