G7 trade ministers began a meeting in Paris on Tuesday to address topics such as essential minerals, but were not anticipated to directly confront the recent US threat of imposing extra tariffs on European cars.
The meeting, scheduled to continue until Wednesday, is occurring as the Middle East conflict has disrupted the global economy due to the closure of the Strait of Hormuz, which typically sees a fifth of the world’s oil transit.
President Donald Trump’s warning last Friday about increasing US tariffs on vehicles from the European Union will probably be handled separately.
Last summer, the United States and European Union reached an agreement to limit US tariffs on EU vehicles and components to 15 percent, a reduction from the 25 percent duty that Trump applied to several other trade partners.
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In late March, EU politicians approved the agreement with Trump, but imposed certain conditions. It still requires the approval of member nations.
Trump stated Friday that he would increase vehicle tariffs in retaliation for the EU's failure to honor the agreement.
The office of Nicolas Forissier, France's junior trade minister, stated earlier this week that Europeans would address Trump's threat, but "not as part of the G7".
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US Trade Representative Jamieson Greer was anticipated to discuss with EU Trade Commissioner Maros Sefcovic in the French capital.
A meeting is also planned with Roland Lescure, the French Economy Minister.
During a casual meeting organized by France’s business sector on Tuesday, Greer mentioned in a video that the United States considered “trade policy mainly as a form of domestic policy.”
“The United States is acting independently, but also in collaboration with willing allies,” he stated.
“We consider the priorities France is pursuing as this year’s G7 host to be supportive of US initiatives on trade,” he stated.
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The trade ministers from the G7 (Britain, Canada, France, Germany, Italy, Japan, and the United States) are anticipated to talk about the four priorities established by the French presidency of the group.