G7 finance chiefs begin talks under strain of Trump tariffs

By AFP
|
May 22, 2025
Gathering of G7 finance ministers and central bank governors in Canada. — AFP/File

Banff: G7 finance leaders exchanged pleasantries before tough discussions on Wednesday, seeking to restore stability in the face of economic turbulence from US President Donald Trump’s tariffs and strengthen support for Ukraine.

The gathering of finance ministers and central bank governors from the Group of Seven nations in Canada is seen as a test of cohesion among the advanced economies, as Trump’s trade policies threaten to drag down economic growth. Once broadly aligned, the grouping -- comprising Britain, Canada, France, Germany, Italy, Japan and the United States -- could struggle for unity amid the upheaval caused by Trump’s trade wars.