G7 will ‘de-risk and diversify’ its relationships with China and stave off economic pressure, says Biden


President Biden and his administration are taking steps to “de-risk and diversify” the United States’ economic ties with China, and prioritize long-term investments in critical industries and supply chains that better protect the U.S. economy from potential coercion.

The Administration is also looking at ways to strengthen and diversify America’s technological capabilities and critical supply chains in order to mitigate the potential for economic coercion or manipulation from China.

The White House is also actively engaging world leaders, including at the G-7 Summit, to discuss strategies to better protect the United States and its partners from Chinese economic coercion and malign economic influence.

The Administration is using the G-7 platform to advance a shared effort to deter Chinese aggression by seeking greater economic resilience, coordination, and security.

In addition, the Administration is focused on better enforcing U.S. trade and investment laws, advancing stronger labor and environmental standards, and engaging world markets so that everyone plays by the rules. The Administration has also proposed a tax on corporate sales of digital services to collect revenue from tech giants for investments in underserved communities.

Finally, the Biden Administration is working with our allies and partners around the world to advance a trans-Atlantic agenda to bolster the US-EU relationship and strengthen democracy, human rights, and rule of law globally.