Economy & Trade
Quad ministers raise concern over economic coercion
Foreign ministers from the United States, India, Japan and Australia jointly raised concerns on Saturday about economic coercion, including export curbs and practices they said can lead to overproduction.
A Quad statement issued in Atlanta, Georgia, said the four ministers expressed "grave concerns regarding economic coercion, including through arbitrary export restrictions". The statement also criticised "non-market policies and practices that result in overcapacity", saying they disrupt global supply chains in critical industries.
The statement did not name any country. China, which views the Quad grouping with suspicion, has pushed back against accusations of overcapacity.
The ministers met on the sidelines of a G20 meeting hosted by US Secretary of State Marco Rubio.
The Quad also said critical sea lanes, energy security and the free passage of maritime crews and vessels must be protected. It called for preserving navigational rights and freedoms in the Strait of Hormuz, the Red Sea and the Bab el-Mandeb Strait.
Uncertainty notes
The Quad statement did not identify the countries it was criticising.
Source
AFP news report published on .