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May 16, 2024

G7 Trade Relations in Unchartered Waters: Future-Proofing Trade Relations for a Changing Geopolitical and Geoeconomic Environment

Think7 Initiative Italia 2024 Policy Brief Picture
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Interdependencies in global trade are increasingly no longer seen as a win-win and welfare enhancing situation. Instead, they are perceived as a possible vulnerability, which can be weaponized for geopolitical purposes. In this challenging environment, G7 countries are attempting to strengthen supply chains for critical and strategic goods and technologies among themselves and with trusted partners. The current geoeconomic environment presents both a challenge and an opportunity for G7 countries to resolve older trade conflicts and address new trade disputes in more cooperative and strategic ways. The recent disruptions of the global value chain have centred the focus on security. Countries are now working to increase the resilience of their supply chains and diversify their trade relations, also to counter China’s pervasive influence in the economy through state-owned enterprises (SOEs) and subsidies.

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The article was written by Claudia Schmucker, Mehmet Sait Akman, Axel Berger, Robert Koopman, Stormy Mildner, Davide Tentori & Tetsuya Watanabe and was first published by Think 7 (T7). You can read the full text here.

Bibliographic data

Schmucker, Claudia, Stormy-Annika Mildner, and Davide Tentori. “G7 Trade Relations in Unchartered Waters: Future-Proofing Trade Relations for a Changing Geopolitical and Geoeconomic Environment.” German Council on Foreign Relations. May 2024.

This article is wirtten by Claudia Schmucker, Mehmet Sait Akman, Axel Berger, Robert Koopman, Stormy Mildner, Davide Tentori & Tetsuya Watanabe and was first published by Think 7 on May 16, 2024. You can find the full policy brief here.

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