G7 Finance Leaders Vow Joint Action on Global Trade Imbalances, Implicitly Target China

Report by Safarti Tarjuman International Desk

Finance ministers and central bank governors from the world’s seven leading economies have committed to addressing global economic imbalances, in a clear signal aimed at confronting China’s controversial trade strategies.

Meeting in the Canadian Rockies, the Group of Seven (G7) — comprising the United States, United Kingdom, Canada, Japan, Germany, France, and Italy — issued a joint communiqué on Thursday expressing a unified resolve to challenge “nonmarket policies and practices” that distort global trade. While China was not explicitly named, the language strongly alluded to long-standing grievances about Beijing’s export subsidies, state intervention, and currency management.

The statement marks a significant step in G7 economic policy, notably excluding the group’s customary emphasis on free trade in favor of a more guarded, strategic approach to market fairness. This shift reflects growing consensus among member nations to respond more assertively to what they describe as unfair competitive practices that undermine the global economy.

While also addressing ongoing geopolitical concerns, the communiqué included a warning that further sanctions could be imposed on Russia should it fail to reach a ceasefire agreement in its conflict with Ukraine — though the language was more restrained than in previous years.

Despite internal differences, especially over U.S. tariff policies, the summit demonstrated a renewed commitment to multilateral cooperation on global financial issues. The finance leaders emphasized that coordinated efforts are essential to ensure equitable economic growth and protect the integrity of international trade systems.