G7 Leaders Target China's "Economic Coercion" in Summit Statement.
The G7 countries are discussing ways to counter China's "economic coercion" against other nations, according to U.S. Treasury Secretary Janet Yellen. Yellen emphasized that any action by the U.S. will be "narrowly scoped and targeted at technologies where there are clear national security implications." Lawmakers in the U.S. have been pushing the Biden administration to enhance its scrutiny of investments made by American companies and individuals in foreign countries, particularly China, citing concerns about national security and supply chain matters.
