Biden, Meloni Hold Bilateral Talks as G7 Targets China’s Economic Practices
By Boniface Ihiasota, USA
U.S. President, Joe Biden and Italian Prime Minister, Giorgia Meloni met Friday for bilateral talks during the G7 summit, held in Borgo Egnazia near Bari, southern Italy, Excel Magazine International can report.
The leaders of the Group of Seven wealthy democracies aim to forge a united stance on economic security threats posed by China, including its overcapacity in electric vehicles, support for Russia’s military, and its trade and investment practices in developing countries.
Biden is urging G7 counterparts to apply maximum pressure on these issues. However, the extent of their actions will not be clear until the leaders release their final communique.
“China is supplying the ability and technology to produce weapons for Russia,” Biden stated during a joint press conference with Ukrainian President Volodymyr Zelenskyy on Thursday evening.
On the sidelines of the G7 summit in Savelletri, Italy, Biden and Zelenskyy signed a bilateral security agreement on June 13.
A senior Biden administration official emphasized the critical nature of China’s support for Russia’s defense industry, not only for the Ukraine conflict but also as a long-term threat to Europe’s security.
Earlier this week, the U.S. announced secondary sanctions targeting entities aiding Russia’s military industrial base, including China-based companies and smaller Chinese banks. Beijing condemned the sanctions, accusing Washington of opportunism and hypocrisy.
The European Union recently announced higher tariffs of up to 38% on Chinese electric vehicle imports, amid concerns over dumping of government-subsidized EVs.
The Biden administration had previously increased tariffs on Chinese EVs to 100% and imposed steep hikes on certain Chinese steel, aluminum products, solar cells, and semiconductors.
In response, Beijing vowed to defend its interests without specifying retaliatory measures.
The G7 is also set to reaffirm its commitment to reform multilateral development banks like the World Bank but is unlikely to agree on a debt relief package for low- and middle-income countries.
The group aims to counter Beijing’s Belt and Road initiative by stimulating $600 billion in private infrastructure funding by 2027 through the Partnership for Global Infrastructure and Investment (PGI).
Meloni’s Mattei Plan to bolster investments in Africa is part of the G7’s efforts. The U.S. is focusing on developing infrastructure corridors with the EU and Japan, such as the Lobito Corridor in Africa and the Luzon Corridor in the Philippines.
G7 leaders continued discussions on artificial intelligence and AI ethics, building on the Hiroshima framework from their last summit in Japan.
Pope Francis, who fell victim to AI-generated memes, supports the Rome Call for AI Ethics, which promotes technological progress serving human creativity.
However, the summit faces internal divisions. Italy is reportedly demanding the removal of references to “safe and legal abortion” from the final communique, a point included in last year’s Japan summit statement.
G7 leaders are also expected to reaffirm support for a Gaza cease-fire proposal. Biden, however, expressed skepticism about achieving a pause in fighting, blaming Hamas for the delay.
Following the G7 summit and meetings with Meloni and the pope, Biden will return to the U.S. for campaign events in Los Angeles.
