G7 finance ministers are discussing potential tariffs on oversupplied, low-value Chinese products. The discussions took place at a meeting of G7 finance chiefs in Banff, Alberta, on Tuesday.
Canadian Finance Minister Francois-Philippe Champagne stated that the agenda includes coordinating actions to address overcapacity and non-market practices. This is in response to concerns about oversupply from China impacting global markets.
The G7 aims to find coordinated solutions to ensure fair trade practices and prevent market distortions caused by overproduction. Further details on the specific products and tariff levels are expected to emerge as discussions progress.