G7 reaches consensus on China dumping, human rights abuses -U.S. official



© Reuters. British Prime Minister Boris Johnson, U.S. President Joe Biden, France’s President Emmanuel Macron, Canadian Prime Minister Justin Trudeau, Australia’s Prime Minister Scott Morrison, German Chancellor Angela Merkel, South Africa’s President Cyril Ramaphos

CARBIS BAY, England (Reuters) – G7 leaders have reached consensus on the need for a shared approach to China selling exports at unfairly low prices and to human rights abuses, a senior official in the U.S. President Joe Biden’s administration said on Saturday.

The official, speaking on condition of anonymity, said the leaders of the Group of Seven world’s largest advanced economies had also agreed on the need to coordinate on supply chain resilience to ensure democracies are supporting each other.

“I would say there was unanimity in terms of a willingness to call out human rights abuses and violations of fundamental freedoms that invoke our shared values,” the official said.

“There was commitment to take action in response to what we’re seeing.” The official said the G7 had moved far from three years ago when the final communique made no mention of China.

Under the legal structure of the World Trade Organization, the designation of China as a “non-market economy” allows its trading partners, including the United States, to use a special framework to determine whether China’s exports are being sold at unfairly low prices and, if that is found to be the case, to apply additional anti-dumping duties.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

See also  SBI Mutual Fund cuts exposure to blue chip stocks, adds small and mid caps

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here