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Canadian FinMin: G7 weighs joint tariffs on low-value Chinese imports

Canada’s Finance Minister François-Philippe Champagne confirmed on Wednesday that Group of Seven (G7) nations are mulling over coordinated efforts to impose levies on low-value Chinese imports.

Key quotes

G7 members considering addressing the issue of surge in inexpensive Chinese goods, which are often sold through e-commerce platforms at prices that evade traditional tariffs. 

Overcapacity issues and non-market behavior are distorting global trade.

This comes after the United States (US) decided to revoke the so-called de minimis exemption for certain Chinese e-commerce shipments.

Japanese Yen advances to two-week high against a broadly weaker USD

The Japanese Yen (JPY) touched a fresh two-week high against a broadly weaker US Dollar (USD) during the Asian session on Wednesday despite the disappointing release of Japan's trade balance data.
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Silver Price Forecast: XAG/USD consolidates around $33.00; seems poised to climb further

Silver (XAG/USD) retreats slightly following an Asian session uptick to the $33.20 area, or over a one-week high, and erodes a part of the previous day's strong move up.
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