G7 trade ministers warned on Wednesday against “nonmarket policies and practices” and pledged coordinated action to strengthen supply chain resilience and address economic coercion.
“We reaffirm our shared concerns regarding nonmarket policies and practices (NMPPs), and their adverse impacts,” the ministers said in a joint statement following their meeting in Paris on May 5-6.
They cited “persistent market distortions, global structural excess capacity, harmful spillovers in global and domestic markets, and growing economic dependencies.”
The ministers said they would continue discussions on countering such practices, including “pervasive, opaque and harmful industrial subsidies” and “forced technology transfer.”
They also expressed concern over what they described as “economic coercion,” including “arbitrary export restrictions” that could disrupt supply chains.
“We will work together with partners to reduce critical dependencies and ensure that attempts or threats to weaponize economic dependencies will fail,” the statement said.
It stressed that resilient and reliable supply chains are “essential to economic security,” particularly in strategic sectors such as critical technologies and minerals.
Ministers warned that critical minerals supply chains remain exposed to “high levels of concentration, supply disruptions and market-distorting practices.”
They also outlined possible policy tools under discussion, including “transparency and traceability mechanisms,” “diversification requirements,” “joint procurement instruments” and “price floors,” among others.
“We intend to continue to discuss the feasibility and development of policies and mechanisms that would be necessary to ensure supply chain resilience and diversification,” the ministers said.
On global trade governance, the G7 expressed regret over the lack of outcomes at the World Trade Organization (WTO) Ministerial Conference and called for “constructive discussion” on reform.
“We call for constructive discussion at the WTO to drive meaningful reform,” the statement said, while reaffirming the importance of WTO rules for global trade.
The ministers also highlighted growing challenges linked to cross-border e-commerce and small parcel trade, calling for stronger cooperation on customs risk management, product safety and environmental impact.