Published: 15:32, May 25, 2024
French, German ministers at G7 meeting warn against trade wars
By Xinhua
Germany's Federal Minister of Finance Christian Lindner (left) is welcomed by Italy's Finance Minister Giancarlo Giorgetti upon his arrival at the G7 Finance Ministers meeting in Stresa, northern Italy, May 24, 2024. (PHOTO / AP)

ROME - Finance ministers of France and Germany warned against trade wars during the ongoing Group of Seven (G7) finance meeting in Stresa, northern Italy.

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"We should definitely avoid any kind of trade wars, because the trade war is neither in the interest of the US, nor China, nor Europe, nor any country in the world," Bruno Le Maire, France's Minister of Economy, Finance and Industrial and Digital Sovereignty, told reporters.

France's Minister for Economy and Finances Bruno Le Maire (center) is welcomed by Italy's Finance Minister Giancarlo Giorgetti (right) and Fabio Panetta Governor of the Bank of Italy, at the G7 Finance Ministers meeting in Stresa, northern Italy, May 24, 2024. (PHOTO / AP)

Christian Lindner, the Finance Minister of Germany, said that European Union nations should avoid undermining free and fair international trade, as trade wars ultimately result in no winners, only losers.

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Charing the Stresa meeting - as Italy holds the Group's rotating presidency - Italian Economy Minister Giancarlo Giorgetti said the G7 needed to "find right rules to balance between security and free trade on a new stage of globalization."