China has criticized the G-7 nations for their claims about China's trade practices, particularly overcapacity. The G-7 finance ministers and central bankers accused China of non-market policies that harm global economies. In response, China dismissed these allegations as protectionism. The Biden administration has reimposed tariffs on Chinese imports and increased duties on Chinese electric vehicles, while the EU is considering raising levies on China's EV industry. China has also launched a $47.5 billion state fund to boost its semiconductor industry and is investigating U.S. plastics imports, affecting companies like Basf and Asahi Kasei.