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G-7 trade chiefs agree to deter economic coercion, eyeing China

Joint statement opens door to develop new tools for fair and free trade

Yasutoshi Nishimura, Japan's trade minister, participated in the Group of Seven online meeting April 4. (Photo courtesy of Japan's Ministry of Economy, Trade and Industry)

TOKYO -- The trade ministers of the Group of Seven leading industrial nations agreed Tuesday to cooperate on measures to deal with economic coercion such as import-export restrictions and tariff hikes, with an eye on China's outsize role in global trade.

Their online meeting had a goal of ensuring free and fair trade as well as economic security, the first time that the latter was included as an agenda item. After the meeting, Japan's Economy, Trade and Industry Minister Yasutoshi Nishimura told reporters that he wanted to solidify G-7 cooperation. Japan serves as chair of the G-7 this year.

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