Exclusive: G7 summit statement to target China’s ‘economic coercion’

By Trevor Hunnicutt

WASHINGTON (Reuters) – Leaders of the Group of Seven (G7) countries are set to issue a statement of concern about China’s use of economic leverage abroad when they gather next week, according to a U.S. official familiar with the discussions.

That statement, a likely component of the overall communique that will be released by leaders during the May 19 to 21 summit in Hiroshima, Japan, is expected to be paired with a broader written proposal for how the seven advanced economies will work together to counter “economic coercion” from any country.

The main G7 statement is set to include “a section specific to China” with a list of concerns that include “economic coercion and other behavior that we have seen specifically from the [People’s Republic of China],” according to the official.

A separate “economic security statement will speak more to tools” used to counter those efforts, including planning and coordination, the person said. In each case, these statements are to expected go further than prior statements by the G7 on the topic.

U.S. President Joe Biden has made China a focus of his foreign policy, working to keep the tense and competitive relationship from veering into one of open conflict, including over self-ruled Taiwan.

The G7, which also includes Canada, France, Germany, Italy and the United Kingdom, is closely tied economically to China, the world’s biggest exporter and a key market for many of their companies.