G7 Trade Ministers Push for Rules Commitment
By Metal Center News Staff
on Jun 1, 2021
The aluminum associations of the United States, Europe, Canada and Japan welcome G7 trade ministers’ commitment to stronger international rules on trade.
In the joint communique issued at the conclusion of their meeting on May 28, G7 trade ministers recognized the harmful impacts of market-distorting practices on citizens and businesses. “These practices create unfair competitive conditions, hindering the development and use of innovative technologies and undermining the proper functioning of international trade. Of particular concern are harmful industrial subsidies, including those that lead to severe excess capacity, a lack of transparency regarding the state’s role in the economy and the role of state enterprises in unfair subsidization, and forced technology transfer," the group wrote.
The announcement was welcomed by Tom Dobbins, president and CEO of the Aluminum Association; Gerd Go¨tz, director general of European Aluminium; Jean Simard, president and CEO of the Aluminium Association of Canada; and Yoshihisa Tabata, executive director of the Japan Aluminium Association. A statement from the group read:
“We certainly welcome and value the shift from bilateralism to multilateralism, which is the only way to resolve this global issue. The aluminum industry across our countries has been working together to ensure that our optimized production and recycling systems, and the 2 million direct and indirect jobs that they support, do not fall victim to the enormous subsidies from state enterprises that are distorting markets along the aluminum value chain. We have been asking our governments to work together as well, and to work with us; they have responded.”
“Our member companies are not seeking protection from competition within or outside our countries – we are seeking a global level playing field, with free, fair, and open markets. Our workers, our companies, our customers, and all of our citizens deserve no less,” the statement read.