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Illustration: Sarah Grillo/Axios

The G7 trade ministers released a joint statement on Wednesday pledging to work together to achieve a "strong economic recovery."

What they're saying: The trade ministers said it was necessary to discuss the impact of "harmful industrial subsidies" and to collectively address them. The officials expressed concern about China's support for its domestic companies, stressing the importance of fostering "a truly level playing field" in trade."

"Trade ministers will discuss the impact market-distorting practices, such as harmful industrial subsidies, including those causing excess capacity in some sectors, are having on our economies and chart a way to address these collectively," the statement read.

  • The group noted its commitment to see progress on World Trade Organization reform as well as other trade issues such as climate, the digital economy and increased opportunities for women.

Details: The G7 trade ministers — from the U.S., Germany, the U.K., France, Canada, Italy and Japan — presented an agenda they say could make a more fair and sustainable global trading system.

  • They encouraged cooperation between governments, along with players in the health care industry, to increase production and distribution of coronavirus vaccines.
  • The group also said it would discuss the connection between trade and climate change and would focus on "identifying opportunities for collaboration and facilitating sustainable supply chains."
  • The ministers added that global trade needs to happen at the benefit of the people, noting it is important to advance women's economic empowerment "particularly to support the COVID-19 recovery."
    • Zoom out: A recent report from the World Economic Forum found that, globally, it will take 135.6 years to close the gender gap, an increase of about 35 years from 2020.

What's next: "The G7 trade ministers will meet again in May, ahead of the leaders summit hosted by the U.K. in June," Politico writes.

Go deeper

Top Republicans form new group to fight Biden tax hikes

Marc Short at the White House in March 2020. (Photo: Stefani Reynolds/Bloomberg via Getty Images)

Top GOP operatives have formed a group to fight President Biden's plans to raise taxes to pay for his expected $3 trillion-plus infrastructure package.

Why it matters: The Coalition to Protect American Workers is the first major conservative group formed exclusively to block Biden's tax agenda. Its leaders include Marc Short, who was former Vice President Pence's chief of staff.

Updated 3 hours ago - World

Reports: Up to 17 U.S. missionaries kidnapped in Haiti

Haitian soldiers guard the public prosecutor's office in Port-au-Prince earlier this month. Photo: Richard Pierrin/AFP via Getty Images

Children were among up to 17 American Christian missionaries and their relatives kidnapped by a gang in Haiti on Saturday, the New York Times first reported.

Details: The missionaries had just left an orphanage and were traveling by bus to the airport to "drop off some members" and were due to travel to another destination when the gang struck in Port-au-Prince, Haitian security officials said, per the NYT.

4 hours ago - World

Melbourne, "world's most locked-down city," to lift stay-at-home orders

Victorian Premier Daniel Andrews during a news conference in Melbourne, Australia, on Sunday. Photo: Quinn Rooney/Getty Images

Melbourne's stay-at-home orders will end five days earlier than planned, officials in Australia's second-biggest city announced Sunday.

Why it matters: The capital of the state of Victoria has had six lockdowns totaling 262 days since March last year. That means Melbourne spent longer under lockdown than "any other city in the world" during the pandemic, Reuters notes.

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