world-economy

Germany Pushes G-7 to Strengthen Supply-Chain Defenses Amid Regional Tensions

German Finance Minister Lars Klingbeil called on Group of Seven partners to deepen cooperation on raw materials, energy, and supply chains. Speaking ahead of G-7 discussions, Klingbeil emphasized that Europe must assert independent interests against global competitors through regional preference policies. The push comes as the Iran conflict destabilizes global oil markets and threatens economic stability. Finance officials acknowledged the war is creating headwinds for growth and inflation forecasts across developed economies. Logistics networks face vulnerability from disruptions at key chokepoints and competing demand for constrained commodities. G-7 chiefs signaled commitment to measured fiscal responses, avoiding excessive stimulus that could worsen inflationary pressures. Officials stressed deepening trade relationships within the bloc to hedge against supply shocks.