An escalating trade confrontation between the United States and China is bringing the G7 towards new formations to address this challenge. President Joe Biden sees a unified alliance against China as necessary, reflected in his decisions to impose tariffs and restrict the export of sensitive technology. Treasury Secretary Janet Yellen leads these efforts, seeking to unify Western efforts to tackle the Chinese challenges, especially in clean energy and green technology sectors.

As tensions rise, China views these steps as protectionist and commercial, strongly opposing them. Concerns are growing about the impact of these conflicts on global economic growth, with American consumers potentially bearing the brunt through increased tariffs.

Furthermore, there is growing concern about deepening the alliance between Russia and China, complicating the international context and raising questions about the future of international and economic relations.