French Finance Minister Bruno Le Maire warned about the massive influx of Chinese products in the world market. 

Le Maire told Blomberg that the Group of Seven (G7), of which France is part, has an issue with the economic model where China produces cheaper and cheaper industrial devices, as it could pose a threat not only to the European Union and the United States but also "for the global world economy."

"We need to address that issue," he added.

G7's United Economic Front vs. China

The G7 finance ministers met at a summit in Stresa, Italy, over the weekend. There, they merged to launch a tougher and more united challenge to China's overcapacity, which they claim would threaten their domestic manufacturers. 

In particular, they have particularly cited China as they agreed to "respond to harmful practices" and "consider taking steps to ensure a level playing field." 

The language used in the bloc's communique remarkably escalated from the usually neutral language regarding trade. 

It could be recalled that the US recently imposed a 100% tariff increase on Chinese cleantech exports, especially on electric vehicles, while the US is concluding its EV subsidy investigation that would likely lead to defensive measures against China's car exports.

Le Maire told his G7 colleagues that their nations should strengthen information exchange and initiate a shared assessment of China's industrial practices while insisting that the EU has all the tools necessary to re-establish a level playing field. 

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Le Maire Stresses on Sustained AI Oversight

Meanwhile, the French official also said that he is seeking to preserve the gains from previous government policies and invest in building its own industry and technology sectors, especially in artificial intelligence (AI).

France intends to preserve its AI development leadership in Europe after attracting foreign capital, especially Microsoft's €4 billion ($4.34 billion) investment in French cloud and AI infrastructure this month. The investment came after Paris-based firm Mistral AI announced in February that it had partnered with Microsoft.

Le Maire said that they would explore options for dealing with the Microsoft-Mistral cooperation to ensure that French tech companies stay in French hands. 

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