G7 leaders agree to new initiative to fight economic coercion

Leaders of the Group of Seven agreed on Saturday to establish a new initiative to counter economic coercion, and pledged to take steps to ensure that any actors attempting to weaponise economic dependence would fail and face consequences.

The initiative, dubbed Coordination Platform on Economic Coercion, will use early warning and rapid information sharing on economic coercion with members meeting regularly for consultations, the leaders said in a statement.