May 25, 2024

Chinese experts have strongly criticized US efforts to rope in G7 members to form a coalition of protectionism targeting Chinese emerging industries, particularly in the electric vehicle (EV) sector, at a G7 finance meeting in Italy later this week.

The experts argue that the US is unlikely to achieve its intended goals as it is not in the interests of some G7 member states with stronger trade ties with the Chinese EV sector and global green transformation processes. 

US Treasury Secretary Janet Yellen on Thursday said that she wants market-driven countries to present a "wall of opposition" to China's industrial policies, a key issue she is pushing at a G7 finance ministers and central bank governors meeting in Italy on Friday and Saturday, Reuters reported.

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