Joint Declaration Against Trade-Related Economic Coercion and Non-Market Policies and Practices
The Governments of Australia, Canada, Japan, New Zealand, the United Kingdom and the United States of America endorsed a Joint Declaration Against Trade-Related Economic Coercion and Non-Market Policies and Practices at a Ministerial meeting in Paris on 8 June 2023.
The Joint Declaration builds on the momentum of the G7 Leaders’ Statement on Economic Resilience and Economic Security on 20 May 2023.
The use of trade-related economic coercion and non-market-oriented policies and practices (“non-market policies and practices”) threatens and undermines the rules-based multilateral trading system and harms relations between countries. The purpose of this Declaration is to express our shared concern and affirm our commitment to enhance international cooperation in order to effectively deter and address trade-related economic coercion and non-market policies and practices.
2. Non-market policies and practices of concern include: industrial policies and practices that promote excess capacity; pervasive subsidization; discriminatory and anti-competitive activities of state owned or controlled enterprises; the arbitrary or unjustifiable application of regulations; forced technology transfer; state-sponsored theft of trade secrets; government interference with or direction of commercial decision-making; and insufficient regulatory and market transparency. Non-market policies and practices have also been used as tools for economic coercion.
6. We urge all governments to refrain from the use of trade-related economic coercion and non-market policies and practices and to support free and fair trade based on open, market-oriented policies and principles that promote a level playing field and non-discriminatory treatment in international trade relations, benefit all economies, and help secure shared prosperity for all.
7. We commit to work together, with all interested partners, to identify, prevent, deter, and address trade-related economic coercion and non-market policies and practices, including through multilateral institutions, such as the WTO. These efforts will include, where appropriate, cooperation in WTO committees and in disputes to challenge these practices. We also commit to the sharing of information, data and analysis concerning these policies and practices as well as exploring the development of new diplomatic and economic tools that support and reinforce the rules-based multilateral trading system in responding to these challenges.
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They really dislike how the PRC runs her domestic economy with US and allied jargon like 'non market policies'. We should refrain from running our own economy. Hands off and follow our neoliberal dictates that we want to force upon you.
