Secretary of State Antony J. Blinken is traveling to San Jose on June 1-2, 2021, to a meeting of the Central American Integration System (SICA) convened.
Leaders of the Group of Seven (G7) countries have reaffirmed their commitment to fair trade and criticized the use of subsidies that create excess capacity, including in steel and aluminium.
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The OECD lifted its 2021 global GDP estimate to 5.8% from 4.2%, forecasting the fastest growth since 1973.
Group of 20 countries will see even stronger growth and emerging countries will lag, the organization said.
Central banks need to look through temporary inflation and keep policy support in place, the OECD added.
Economic recoveries are improving around the world, but the global rebound remains massively uneven, the Organization for Economic Co-operation and Development said in a new report.
The OECD revised its estimate for global gross domestic product higher on Monday, citing unprecedented policy support and the effectiveness of COVID-19 vaccines. Output is now expected to grow 5.8% in 2021, up from the December 2020 forecast of a 4.2% expansion. That rate would mark the strongest year of economic growth since 1973 and follow last year s 3.5% contraction, the OECD said.
Leaders of the Group of Seven (G7) countries have reaffirmed their commitment to fair trade and criticized the use of subsidies that create excess capacity, including in steel and aluminium.
In a joint statement issued at the virtual G7 Trade Track meeting on May 28, the governments of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States called for the start of talks to develop stronger international rules on market-distorting industrial subsidies and trade-distorting actions by state enterprises.
“We reaffirm the importance of the Global Forum on Steel Excess Capacity (GFSEC) as a forum that can help address the issue of global steel excess capacity in a multilateral framework,” the statement said.