G7 & Belgium

G7: The G7 nations have pledged to diversify away from China, adding momentum to the European Union's efforts to counter the trade imbalance. They are discussing plans to tackle the China threat, potentially including higher tariffs.

Belgium: Belgium's Prime Minister, Bart De Wever, warned that European firms compete against Chinese rivals backed by state support on a scale no market economy can match.

G7: The G7 previously set a $60 threshold for the Russian oil price cap, and the European Union is considering aligning with this level or suspending dynamic increases in light of current market conditions.

Belgium: Belgium is one of the member states that has opposed efforts to seize Russian central bank assets outright, preferring to keep them immobilized.

G7: The G7 summit was a venue where French President Emmanuel Macron reiterated France's stance on its digital tax, highlighting the international dimension of this trade dispute.

Belgium: Belgium has proposed introducing a digital services tax, potentially drawing the attention of the United States regarding retaliatory tariffs.

G7: The G7 organized a loan program for Ukraine, which is currently funded by interest raised from Russian assets.