G7 trade ministers gathered in Paris on Tuesday to negotiate global economic issues including critical minerals, industrial policy, and trade resilience, according to a report by France 24.
The two-day summit takes place during a period of heightened global economic pressure. Tensions are rising due to instability in the Middle East and recent threats of new tariffs from the United States.
While the meeting focuses on long-term trade stability, officials are not expected to address the latest US threat to impose additional tariffs on European vehicles directly within the G7 framework. France's junior trade minister, Nicolas Forissier, stated earlier this week that while Europeans would discuss the threat, it would occur outside of the G7 sessions.
The trade dispute follows a disagreement over a deal struck last summer between the US and the EU. That agreement capped US tariffs on EU automobiles and parts at 15 per cent, a rate lower than the 25 per cent duty applied to other trading partners.
Although EU lawmakers approved the deal in late March, it still requires approval from individual member countries. US President Donald Trump recently accused the EU of failing to comply with the agreement, threatening to hike vehicle tariffs in response.
US trade strategy and bilateral talks
Despite the tension, US Trade Representative Jamieson Greer is expected to meet with EU Trade Commissioner Maros Sefordic in Paris. Greer is also scheduled to hold talks with French Economy Minister Roland Lescure.
Speaking at an informal session hosted by the French business community, Greer described the current US approach to trade. "The United States is taking action unilaterally, but also together with willing partners," Greer said in a video message.
Greer also noted that the US views trade policy as a component of domestic policy. He added that the US sees French G7 priorities as "complementary to US efforts on trade."
The summit also arrives as the Middle East war continues to impact global shipping. The closure of the Strait of Hormuz has disrupted the flow of approximately one-fifth of the world's oil.
On Wednesday, ministers from Britain, Canada, France, Germany, Italy, Japan, and the United States are expected to focus on four specific priorities set by the French presidency. These include finding a collective response to industrial overcapacity that threatens free trade.
