HIROSHIMA, Japan—President Joe Biden has addressed U.S. debt limit concerns at the G-7 Summit in Japan, seeking to assure world leaders of his capability to navigate negotiations and prevent a historic default on the United States debt, according to U.S. national security adviser Jake Sullivan. At a press briefing in Hiroshima, one of two Japanese…
White House Says ‘Serious Differences’ in US Debt Limit Talks ‘Not Generating Alarm’ at G-7 Summit
UK to Be Worst-Performing G-7 Economy This Year, Predicts IMF
The International Monetary Fund (IMF) expects the UK economy to grow more slowly than all other Group of Seven (G-7) advanced economies, though it has upgraded its forecast for the country. The latest IMF forecast shows that UK economic output is expected to contract by 0.3 percent this year before rebounding to grow by 1…
Is the G-7 Ranged Against China?
Commentary Japan seems to be planning an end-run around China’s trading power. As chair of the G-7 meetings scheduled for this May in Hiroshima, Japan, Prime Minister Fumio Kishida is leveraging concerns about supply chain reliability to range this group of powerful economies—Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States—against China….
Ottawa Expands Price Caps to Russian Petroleum Products to Reduce Revenues
The federal Finance Department says Canada is joining its fellow G-7 countries plus Australia to expand caps on Russian oil to include seaborne petroleum products from that country. The department says the maximum price for seaborne Russian-origin petroleum will be US $100 per barrel for “premium-to-crude” products as of Sunday, and US $45 for “discount-to-crude”…
UK Prime Minister Says There Is ‘New Impetus’ to Cut Food Tariffs Among G-7 Countries
There’s a new momentum among leaders of the Group of Seven (G-7) nations to cut tariffs on food, British Prime Minister Boris Johnson said on Wednesday, adding that U.S. President Joe Biden was planning to cut $178 billion (£146 billion) worth of tariffs. It comes after Johnson vowed to “get people through” the “post-COVID, Ukraine-exacerbated…
G-7 Takes Aim at China Over Unfair Trade Practices, Human Rights, Ties With Russia
The Group of Seven (G-7) criticized the Chinese regime on June 28 over its unfair trade policies and human rights abuses. The G-7 leaders also urged Beijing to drop “expansive maritime claims” in the South China Sea and press Moscow to stop its invasion of Ukraine. At the end of the three-day summit in the…
Chinese State Media Alone Claim France, Germany Support Unfreezing EU-China Investment Deal
July 8, 2021
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Chinese leader Xi Jinping held a video summit on July 5 with German Chancellor Angela Merkel and French President Emanuel Macron. In their coverage of the event, Chinese official media claimed that both French and German leaders expressed support for unfreezing the EU-China Investment Agreement as soon as possible. However, there is no mention of…
G7 Tax Deal Could Face Senate Hurdle as It Affects US Firms the Most
WASHINGTON—The Group of Seven (G-7) leaders rallied around a global tax deal last week in an effort to make big multinational companies pay their fair share of taxes. The deal, however, met swift opposition from Republicans who called it “tax surrender” for the United States. Studies show that U.S. companies are likely to see the…
G-7 Tax Deal Could Face Senate Hurdle as It Affects US Firms the Most
WASHINGTON—The Group of Seven (G-7) leaders rallied around a global tax deal last week in an effort to make big multinational companies pay their fair share of taxes. The deal met with swift opposition from Republicans, who called it “tax surrender” for the United States. Studies show that U.S. companies are likely to see the…
Italy ‘Carefully’ Reevaluates Its Participation in China’s Belt and Road Initiative
Italian Prime Minister Mario Draghi said at the G7 summit that Italy is reassessing China’s investments in the country “carefully,” shifting away from the pro-Beijing policies of the previous government. Draghi expressed concern about the Chinese Communist regime. “It’s an autocracy that does not adhere to multilateral rules and does not share the same vision of…
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