G-7 Countries Discuss Tariffs on Low-Value Chinese Products
Canadian Finance Minister Francois-Philippe Champagne said Group of Seven countries have already started discussing tariffs on oversupplied, low-value Chinese products.
In a news conference opening a meeting of G-7 finance chiefs in Banff, Alberta on Tuesday, Champagne said the agenda will include talks on how the countries can coordinate their actions and tackle issues around overcapacity and non-market practices, pointing to further steps to curb oversupply from China.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
an hour ago
- Bloomberg
Thai Exporters Face $600 Million in Added Costs as Port Congestion Worsens
Thai exporters and importers risk more than $600 million in added annual logistics costs as congestion worsens at the country's main deep-sea port, driven by a surge in shipments ahead of potential steep US tariffs. The Thai National Shippers' Council has urged the government to address the growing congestion at Laem Chabang Port in Chonburi province. The call comes after the Land Transport Federation of Thailand announced plans to raise trucking fees starting in July, according to a statement Thursday from the council.
Bloomberg
an hour ago
- Bloomberg
Waiting for the Fed All Summer Long
To get John Authers' newsletter delivered directly to your inbox, sign up here. The Federal Reserve might as well take the rest of the summer off and head for the beach. If the sweeping new tariffs are to shift inflation upward, they haven't done it yet. That's the clearest conclusion from the US consumer price inflation data for May, which against expectation showed continuing decline, and nevertheless changed market expectations for the Fed barely at all. May was the first month the Trump 2.0 tariffs were in effect throughout, and yet they had a negligible impact on price rises. That is undeniably good news. But it doesn't disprove that price rises will eventually come, and the data overall give the Fed no reason to jump in either direction. Breaking inflation into its four main components — food and energy, and the remaining goods and services — in our regular chart from the ECAN function on the terminal shows minimal change. Services continue to dominate, energy was negative and food positive. Core goods, the most affected by tariffs, saw inflation tick up, but not to a level that's discernible:
Bloomberg
an hour ago
- Bloomberg
Trump Says Again He Will Set Unilateral Tariffs Within Two Weeks
Good morning. Donald Trump's reiteration of his unilateral tariff plan sends equity futures and the dollar lower. The US pulls some embassy staff in the Middle East. And Bulgarians weigh the pros and cons of adopting the euro. Listen to the day's top stories. Donald Trump reiterated he'll set unilateral tariff rates in the next one or two weeks, reigniting tensions just a day after Chinese and US officials struck a positive tone in their trade talks. European and US equity futures fell alongside the dollar, while haven assets such as Treasuries and gold gained.
