Leaders of the Group of Seven countries are "on the verge of a good outcome" over how to financially support Ukraine and are more unified than ever on key global issues, including China's industrial overcapacity, a top U.S. official said Thursday.
Ahead of this year's G7 summit in southern Italy, the fourth and last U.S. President Joe Biden will attend in his first term, his national security adviser Jake Sullivan told reporters there has been "very good progress" on reaching a deal to use proceeds from frozen Russian sovereign assets to aid Ukraine's defense against Moscow's invasion.
"We see proceeds from these assets as being a valuable source of resources for Ukraine at a moment when Russia continues to brutalize the country, not just through military action on the front, but through the attempted destruction of its energy grid and its economic vitality," he said.
The White House national security aide underscored that G7 leaders have adopted a united front in dealing with geopolitical crises and critical challenges related to the global economy.
He said the challenges include China's industrial overcapacity and welcomed the European Union's announcement Wednesday that it will impose additional tariffs of up to 38.1 percent on electric vehicles imported from the Asian powerhouse.
"This kind of alignment is what we're looking to build upon to create a level playing field for our workers," he said.
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