“We deplore actions to weaponize economic dependencies and commit to build on free, fair, and mutually beneficial economic and trade relationships, and accelerate such collaboration with the wider international community,” the group said in its joint statement. The statement also expressed concern about economic coercion and threats, which it said were increasing in frequency and interfering with the “legitimate” actions of governments.
Trade chiefs of the most advanced economies criticized some nations for exploiting the commercial vulnerabilities of others to pursue policy objectives, without specifying any culprit.
The trade ministers of the Group of Seven nations pledged to build a wider network with developing nations to ensure supply chains are resilient for key items including critical minerals, semiconductors and batteries, according to the group’s joint statement released Sunday at the conclusion of their two-day gathering in Osaka, Japan.
