The G7 finance ministers concluded their summit in western Canada on Thursday, emphasizing unity and cooperation despite ongoing global uncertainty caused by US President Donald Trump’s tariff policies. The meeting aimed to address the economic impact of Trump’s tariffs, which have triggered widespread concern over global growth.
In a joint statement, the G7 leaders acknowledged that economic policy uncertainty has eased but agreed to continue working towards stability. Canadian Finance Minister Francois-Philippe Champagne characterized the talks as “constructive and productive,” highlighting the need to reduce uncertainty to boost growth.
US Treasury Secretary Scott Bessent expressed optimism about the meeting, stating that there were no major disagreements. German Finance Minister Lars Klingbeil emphasized the importance of resolving current trade disputes quickly, as tariffs have placed a significant burden on the global economy.
The G7 also reaffirmed its commitment to supporting Ukraine in ending the conflict with Russia. The communique condemned “Russia’s continued brutal war” and vowed to work together to ensure that no countries or entities supporting Russia during the conflict would be eligible for Ukrainian reconstruction contracts.
While the meeting failed to reach any breakthroughs on tariffs, leaders expressed a sense of unity and cooperation. Joshua Meltzer, a senior fellow at the Brookings Institution, hailed the joint statement as a positive sign, indicating potential for improved relations with the US despite ongoing challenges.
Source: https://www.france24.com/en/economy/20250523-g7-ends-finance-summit-with-show-of-unity-amid-tariff-uncertainty