G7 weighs joint tariffs on low-value Chinese imports amid overcapacity concerns ...Middle East

Canada’s Finance Minister François-Philippe Champagne confirmed that talks are underway among G7 members to address the surge in inexpensive Chinese goods, which are often sold through e-commerce platforms at prices that evade traditional tariffs. Champagne emphasised overcapacity issues and non-market behaviour that he says is distorting global trade.

European governments are also considering similar measures. France, the UK, and the broader European Union have floated proposals to impose duties or administrative fees on low-value imports, with a focus on re-establishing fair competition for domestic producers and curbing the dominance of Chinese supply chains.

While concrete action has yet to be finalised, G7 officials suggest that tariffs on small packages could be one of several steps taken to address what they view as a systemic imbalance in global trade flows.

This article was written by Eamonn Sheridan at www.forexlive.com.

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