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Economic Buzz: G7 trade ministers reaffirm their commitment to continued close cooperation
08-May-2026 17:36
Trade Ministers of the Group of Seven (G7), met in Paris on May 5-6, 2026, at a time of growing pressures on global value chains, increased market volatility, heightened risks to the security of energy markets and persistent macroeconomic and structural imbalances affecting the global economy. They noted that in this context, G7 nations reaffirm the importance of dialogue and cooperation to support economic prosperity through trade, while enhancing economic resilience and economic security. G7 trade ministers' communiqu' stated that we reaffirm our shared concerns regarding non-market policies and practices (NMPPs), and their adverse impacts, including persistent market distortions, global structural excess capacity, harmful spillovers in global and domestic markets, and growing economic dependencies. We will continue discussions on how best to counter NMPPs, including pervasive, opaque and harmful industrial subsidies, market-distortive practices of state-owned enterprises, and all forms of forced technology transfer.

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