G7 draft calls on Iran and Israel to de-escalate conflict
With an escalating Israel-Iran conflict, the summit in Canada is seen as a vital moment to try and restore a semblance of unity among democratic powerhouses.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq jump, oil slides as investors hope Israel-Iran conflict remains contained
US stocks rebounded Monday while oil prices slid as jitters over a widening in the Israel-Iran conflict started to retreat. The Dow Jones Industrial Average (^DJI) rose more than 300 points, or roughly 0.7%, while the S&P 500 (^GSPC) moved up 0.9%. The Nasdaq Composite (^IXIC) gained 1.5%. The cautious optimism follows a bruising Friday session that saw the Dow plunge more than 700 points in a broad risk-off move. Stocks hit session highs after the Wall Street Journal reported that Iran may be willing to restart talks over its nuclear program in an effort to deescalate the conflict with Israel. When asked about the possibility Trump said, "Yeah ... they'd like to talk, but they should have done that before.' The geopolitical flare-up comes at a delicate moment for markets already buffeted by tariff insecurity. Friday's sell-off dragged the major US indexes into negative territory for the week. Read more: The latest on Trump's tariffs Now investors are regaining some appetite for risk amid rising optimism that the conflict won't spill over into a broader regional crisis. Trump said on Sunday there's a "good chance" of an Israel-Iran peace deal, but the hostilities may need to play out first. 'Sometimes they have to fight it out, but we're going to see what happens,' he told reporters. A measure of calm is also returning to the oil market, rattled by fears of disruption to the global energy supply. After spiking initially, prices pushed down to pull Brent crude (BZ=F) to just under $73 a barrel and WTI crude (CL=F) to settle below $72 a barrel. Meanwhile, the 10-year Treasury yield (^TNX) rose to 4.42% while gold (GC=F) futures retreated from a recent rally. Bitcoin (BTC-USD) climbed to hover above $108,000 per token. On the trade front, US talks with the EU and Canada are taking center stage as Trump attends the G7 summit in Canada. Looming is Trump's July 9 deadline, the date at which his 90-day pause of steep "Liberation Day" hikes expires. Looking ahead, markets overwhelmingly expect the Fed to hold rates steady on Wednesday. While President Trump has maintained pressure on Chair Jerome Powell to cut rates, current market dynamics may leave little room to budge. Yahoo Finance's Josh Shafer reports: Read more here. Uranium-related stocks surged to 52-week highs on Monday, fueled by renewed investor optimism around nuclear energy as a key component for the AI boom. The Global X Uranium ETF (URA) jumped 7% on Monday, highlighting growing interest in uranium miners and nuclear technology providers such as Cameco (CCJ), Oklo (OKLO), and NexGen Energy (NXE). The rally comes on the heels of recent executive orders from the Trump administration supporting the industry at a time when data center demand for power soars. Wall Street expects increased uranium use in nuclear plants as the US and other countries extend the life of existing reactors and commit to cutting-edge technologies using small modular reactors. Yahoo Finance's Pras Subramanian reports: Read more here. Yahoo Finance's Brooke DiPalma reports: Read more here. Bank of America (BAC) analyst Brad Sills downgraded CoreWeave (CRWV) stock to Neutral from his previous Buy rating, citing the AI cloud company's high valuation. "Following Q1 results, the stock has run up 145%," Sills wrote, adding that he believes "much of the near-term upside has been priced in." Sills noted that CoreWeave is trading at 27 times its 2027 earnings, more than previously. He also noted CoreWeave's significant debt. "We forecast $21 billion of negative FCF [free cash flow] through CY27, driven by high capex ($46.1 billion through CY27)," Sills wrote. "Historically, CoreWeave has funded 85% of capex with debt." "Therefore, it is critical that the company have access to reasonably priced debt," he continued. "In the recent debt raise, the company raised $2 billion of debt at 9.3% interest rate, down from 11% in CY24. However, this remains a small % of the total incremental debt required from here, raising some questions, in our view." Despite the downgrade, Sills raised his price outlook on the stock to $185 from $76. CoreWeave stock rose 4.6% on Monday. CoreWeave is an Nvidia-backed (NVDA) firm that holds one of the largest pools of the chipmaker's GPUs. It reported its first quarterly earnings results as a public company in May, featuring soaring revenue and a bullish revenue outlook for the year, on a $4 billion deal with ChatGPT maker OpenAI. Still, some analysts have questioned what they believe is a risky business model. Circle Internet Group (CRCL) stock jumped as high as 18% on Monday to an intraday high, continuing the stablecoin issuer's meteoric rise following its blockbuster IPO earlier this month. The stock climbed to $165 before trimming gains, building on Friday's 25% surge. Circle has repeatedly appeared on Yahoo Finance's trending tickers list in recent sessions as investor enthusiasm for stablecoins — digital tokens backed by reserve assets like the US dollar — continues to grow. Since its highly anticipated debut on June 5 at $31 per share, Circle has soared more than 400%. Nvidia (NVDA) stock gained more than 2%, moving closer to a fresh record as the overall market rallied. The AI chip giant traded above $145 per share, just a stone's throw away from its Jan. 6 record close of $149.43. Stocks moved to session highs on Monday after a report that Iran is looking to deescalate the conflict with Israel. Oil extended a session decline to slide more than 4%, after spiking more than 7% on Friday as Israel and Iran exchanged strikes. The market moves on Monday came as the Wall Street Journal reported Tehran may be willing to restart talks over its nuclear program, a move intended to limit the conflict. Roku (ROKU) stock surged more than 10% on Monday after the streaming platform announced a partnership with Amazon (AMZN) Ads to create the "largest authenticated Connected TV (CTV) footprint' in the US. Roku and Amazon said in a joint statement that the deal will allow advertisers access to an estimated 80 million US CTV households — more than 80% of the total— through Amazon's demand-side platform (DSP). The companies said early tests of this integration have shown 'significant' results. 'Advertisers using this new solution reached 40% more unique viewers with the same budget and reduced how often the same person saw an ad by nearly 30%, enabling advertisers to benefit from three times more value from their ad spend,' said the statement. The major averages opened higher on Monday, while oil pulled back as the Israel-Iran conflict entered its fourth day. The Dow Jones Industrial Average (^DJI) gained about 0.5%, while the S&P 500 (^GSPC) moved up 0.6%. The tech-heavy Nasdaq Composite (^IXIC) rose 0.7%. Oil (CL=F), which rose sharply on Friday, pulled back as traders assessed the scope of the ongoing conflict between Israel and Iran. Investors are focusing this week on the Federal Reserve meeting and policy decision. Market participants overwhelmingly expect policymakers to hold interest rates steady on Wednesday. Strategy (MSTR), the largest corporate holder of bitcoin, reported in a filing to the Securities and Exchange Commission that it purchased $1.05 billion worth of bitcoin between June 9 and June 15. Strategy, which is chaired by crypto tycoon Michael Saylor, has spent $41.8 billion to purchase 592,000 bitcoins since 2020, holding the cryptocurrency as its primary treasury reserve asset. Shares of MSTR rose 1.4% in premarket trading. The stock is up roughly 3,000% since the software firm first bought bitcoin on Aug. 10, 2020. Northrop Grumman (NOC), RTX (RTX), and Lockheed Martin (LMT) traded roughly flat in premarket Monday after rallying in the prior trading session. The defense stocks had climbed Friday after Israel launched a series of airstrikes on Iran, raising tensions in the Middle East and heightening fears of a broader regional conflict. Northrop Grumman stock gained nearly 4%, while Lockheed Martin and RTX shares rose over 3%. The three companies supply weapons to Israel through contracts with the US government. Palantir (PLTR) rose a more modest 1.6% Friday but was up 2.2% before the market open Monday. Shares of Sarepta (SRPT) plunged 40% in premarket trading on Monday after the company said a second patient died of liver failure while taking its experimental gene therapy, Elevidys. Sarepta paused its clinical trial and halted shipments of the treatment to patients who are unable to walk. News of the death comes after another patient died of acute liver failure in March, which raised concerns over the drug's safety. The therapy is used to treat Duchenne muscular dystrophy, a rare muscle disorder. The focus at this week's Federal Reserve meeting is on whether policymakers are still committed to two interest-rate cuts this year, Yahoo Finance's Jennifer Schonberger reports: Read more here. Here are some of the biggest stories you may have missed over the weekend and early this morning: Economic data: Empire manufacturing activity (June) Earnings: No notable earnings. How many Fed cuts ahead? We (and Trump) are about to find out. EU set to accept flat 10% US tariff — with conditions Mideast tensions, Fed's 'dot plot': What to know this week Oil erases gain as Iran-Israel attacks spare critical flows Why Wall Street doesn't see Fed rate cuts coming anytime soon Investors shun long-term US bonds as rate-cut hopes fade Israel-Iran attacks enter 4th day with no deal in sight Here are some top stocks trending on Yahoo Finance in premarket trading: United States Steel Corporation (X) stock was up 5% before the bell on Monday after President Trump approved of Japan's Nippon Steel's take over of the company. Trump the gave the green light to the $14.9B bid for US Steel on Friday, removing a key hurdle in Nippon's 18-month pursuit of the business. Kering's ( Paris-listed shares rose 9% in premarket trading on Monday, after reports emerged that Renault's chief executive, Luca de Meo would become head of the French luxury goods group Gucci. Tesla (TSLA) stock was up 1% on Monday before the bell, rebounding from losses earlier in the Month due to CEO Elon Musk and President Trump's feud. Renault's ( stock dropped over 6% on news that its CEO Luca de Meo has decided to leave. The Italian who turned around the French automaker has been recruited by Kering (PPXB.F, PPRUF) to perform a similar feat at the luxury goods maker, according to Bloomberg. Shares of Kering rose almost 10% in Paris as investors welcomed the report that de Meo will be appointed as the Gucci owner's CEO in coming days. Bloomberg reports: Read more here. Greetings from Cannes Lions, where I am stationed for the week talking with top advertising execs, sports stars and CEOs. Tough assignment! I have found this event to be very useful each year in helping to understand the economy into year end. You would be surprised how forward-looking market spend trends are at the world's biggest companies. To that end, I just got off set with Disney's (DIS) president of global advertising Rita Ferro — one of the top names in the marketing industry. I asked her if a slowing US economy and general macro volatility were beginning to chip away at ad budgets. She wasn't super bullish about ad spending — more cautiously optimistic. Businesses are buying ads once they see they need them, rather than making large commitments on ad spend early, she suggested. "I think people are being very intentional where they spend money," Ferro tells me. "I would say they're [the data points she watches] not recessionary. We see much closer in buying." Gold prices rose as the conflict erupting between Israel and Iran pushed investors toward safe-haven assets in a broader risk-off move. Bloomberg reports: Read more here. Oil continues to gain as Israel and Iran enter the fourth consecutive day of missile strikes between the warring nations. Iran is the third largest oil producer in OPEC+ and controls the Strait of Hormuz, an essential supply route for oil worldwide. Bloomberg reports: Read more here. Yahoo Finance's Josh Shafer reports: Read more here. Uranium-related stocks surged to 52-week highs on Monday, fueled by renewed investor optimism around nuclear energy as a key component for the AI boom. The Global X Uranium ETF (URA) jumped 7% on Monday, highlighting growing interest in uranium miners and nuclear technology providers such as Cameco (CCJ), Oklo (OKLO), and NexGen Energy (NXE). The rally comes on the heels of recent executive orders from the Trump administration supporting the industry at a time when data center demand for power soars. Wall Street expects increased uranium use in nuclear plants as the US and other countries extend the life of existing reactors and commit to cutting-edge technologies using small modular reactors. Yahoo Finance's Pras Subramanian reports: Read more here. Yahoo Finance's Brooke DiPalma reports: Read more here. Bank of America (BAC) analyst Brad Sills downgraded CoreWeave (CRWV) stock to Neutral from his previous Buy rating, citing the AI cloud company's high valuation. "Following Q1 results, the stock has run up 145%," Sills wrote, adding that he believes "much of the near-term upside has been priced in." Sills noted that CoreWeave is trading at 27 times its 2027 earnings, more than previously. He also noted CoreWeave's significant debt. "We forecast $21 billion of negative FCF [free cash flow] through CY27, driven by high capex ($46.1 billion through CY27)," Sills wrote. "Historically, CoreWeave has funded 85% of capex with debt." "Therefore, it is critical that the company have access to reasonably priced debt," he continued. "In the recent debt raise, the company raised $2 billion of debt at 9.3% interest rate, down from 11% in CY24. However, this remains a small % of the total incremental debt required from here, raising some questions, in our view." Despite the downgrade, Sills raised his price outlook on the stock to $185 from $76. CoreWeave stock rose 4.6% on Monday. CoreWeave is an Nvidia-backed (NVDA) firm that holds one of the largest pools of the chipmaker's GPUs. It reported its first quarterly earnings results as a public company in May, featuring soaring revenue and a bullish revenue outlook for the year, on a $4 billion deal with ChatGPT maker OpenAI. Still, some analysts have questioned what they believe is a risky business model. Circle Internet Group (CRCL) stock jumped as high as 18% on Monday to an intraday high, continuing the stablecoin issuer's meteoric rise following its blockbuster IPO earlier this month. The stock climbed to $165 before trimming gains, building on Friday's 25% surge. Circle has repeatedly appeared on Yahoo Finance's trending tickers list in recent sessions as investor enthusiasm for stablecoins — digital tokens backed by reserve assets like the US dollar — continues to grow. Since its highly anticipated debut on June 5 at $31 per share, Circle has soared more than 400%. Nvidia (NVDA) stock gained more than 2%, moving closer to a fresh record as the overall market rallied. The AI chip giant traded above $145 per share, just a stone's throw away from its Jan. 6 record close of $149.43. Stocks moved to session highs on Monday after a report that Iran is looking to deescalate the conflict with Israel. Oil extended a session decline to slide more than 4%, after spiking more than 7% on Friday as Israel and Iran exchanged strikes. The market moves on Monday came as the Wall Street Journal reported Tehran may be willing to restart talks over its nuclear program, a move intended to limit the conflict. Roku (ROKU) stock surged more than 10% on Monday after the streaming platform announced a partnership with Amazon (AMZN) Ads to create the "largest authenticated Connected TV (CTV) footprint' in the US. Roku and Amazon said in a joint statement that the deal will allow advertisers access to an estimated 80 million US CTV households — more than 80% of the total— through Amazon's demand-side platform (DSP). The companies said early tests of this integration have shown 'significant' results. 'Advertisers using this new solution reached 40% more unique viewers with the same budget and reduced how often the same person saw an ad by nearly 30%, enabling advertisers to benefit from three times more value from their ad spend,' said the statement. The major averages opened higher on Monday, while oil pulled back as the Israel-Iran conflict entered its fourth day. The Dow Jones Industrial Average (^DJI) gained about 0.5%, while the S&P 500 (^GSPC) moved up 0.6%. The tech-heavy Nasdaq Composite (^IXIC) rose 0.7%. Oil (CL=F), which rose sharply on Friday, pulled back as traders assessed the scope of the ongoing conflict between Israel and Iran. Investors are focusing this week on the Federal Reserve meeting and policy decision. Market participants overwhelmingly expect policymakers to hold interest rates steady on Wednesday. Strategy (MSTR), the largest corporate holder of bitcoin, reported in a filing to the Securities and Exchange Commission that it purchased $1.05 billion worth of bitcoin between June 9 and June 15. Strategy, which is chaired by crypto tycoon Michael Saylor, has spent $41.8 billion to purchase 592,000 bitcoins since 2020, holding the cryptocurrency as its primary treasury reserve asset. Shares of MSTR rose 1.4% in premarket trading. The stock is up roughly 3,000% since the software firm first bought bitcoin on Aug. 10, 2020. Northrop Grumman (NOC), RTX (RTX), and Lockheed Martin (LMT) traded roughly flat in premarket Monday after rallying in the prior trading session. The defense stocks had climbed Friday after Israel launched a series of airstrikes on Iran, raising tensions in the Middle East and heightening fears of a broader regional conflict. Northrop Grumman stock gained nearly 4%, while Lockheed Martin and RTX shares rose over 3%. The three companies supply weapons to Israel through contracts with the US government. Palantir (PLTR) rose a more modest 1.6% Friday but was up 2.2% before the market open Monday. Shares of Sarepta (SRPT) plunged 40% in premarket trading on Monday after the company said a second patient died of liver failure while taking its experimental gene therapy, Elevidys. Sarepta paused its clinical trial and halted shipments of the treatment to patients who are unable to walk. News of the death comes after another patient died of acute liver failure in March, which raised concerns over the drug's safety. The therapy is used to treat Duchenne muscular dystrophy, a rare muscle disorder. The focus at this week's Federal Reserve meeting is on whether policymakers are still committed to two interest-rate cuts this year, Yahoo Finance's Jennifer Schonberger reports: Read more here. Here are some of the biggest stories you may have missed over the weekend and early this morning: Economic data: Empire manufacturing activity (June) Earnings: No notable earnings. How many Fed cuts ahead? We (and Trump) are about to find out. EU set to accept flat 10% US tariff — with conditions Mideast tensions, Fed's 'dot plot': What to know this week Oil erases gain as Iran-Israel attacks spare critical flows Why Wall Street doesn't see Fed rate cuts coming anytime soon Investors shun long-term US bonds as rate-cut hopes fade Israel-Iran attacks enter 4th day with no deal in sight Here are some top stocks trending on Yahoo Finance in premarket trading: United States Steel Corporation (X) stock was up 5% before the bell on Monday after President Trump approved of Japan's Nippon Steel's take over of the company. Trump the gave the green light to the $14.9B bid for US Steel on Friday, removing a key hurdle in Nippon's 18-month pursuit of the business. Kering's ( Paris-listed shares rose 9% in premarket trading on Monday, after reports emerged that Renault's chief executive, Luca de Meo would become head of the French luxury goods group Gucci. Tesla (TSLA) stock was up 1% on Monday before the bell, rebounding from losses earlier in the Month due to CEO Elon Musk and President Trump's feud. Renault's ( stock dropped over 6% on news that its CEO Luca de Meo has decided to leave. The Italian who turned around the French automaker has been recruited by Kering (PPXB.F, PPRUF) to perform a similar feat at the luxury goods maker, according to Bloomberg. Shares of Kering rose almost 10% in Paris as investors welcomed the report that de Meo will be appointed as the Gucci owner's CEO in coming days. Bloomberg reports: Read more here. Greetings from Cannes Lions, where I am stationed for the week talking with top advertising execs, sports stars and CEOs. Tough assignment! I have found this event to be very useful each year in helping to understand the economy into year end. You would be surprised how forward-looking market spend trends are at the world's biggest companies. To that end, I just got off set with Disney's (DIS) president of global advertising Rita Ferro — one of the top names in the marketing industry. I asked her if a slowing US economy and general macro volatility were beginning to chip away at ad budgets. She wasn't super bullish about ad spending — more cautiously optimistic. Businesses are buying ads once they see they need them, rather than making large commitments on ad spend early, she suggested. "I think people are being very intentional where they spend money," Ferro tells me. "I would say they're [the data points she watches] not recessionary. We see much closer in buying." Gold prices rose as the conflict erupting between Israel and Iran pushed investors toward safe-haven assets in a broader risk-off move. Bloomberg reports: Read more here. Oil continues to gain as Israel and Iran enter the fourth consecutive day of missile strikes between the warring nations. Iran is the third largest oil producer in OPEC+ and controls the Strait of Hormuz, an essential supply route for oil worldwide. Bloomberg reports: Read more here. Sign in to access your portfolio
The Advertiser
an hour ago
- The Advertiser
G7 leaders seek to contain Israel-Iran conflict
The Group of Seven summit has begun in Canada with world leaders scrambling to contain the escalating conflict between Israel and Iran, with US President Donald Trump reiterating his call for the two countries to start negotiating. "They should talk, and they should talk immediately," he told reporters. UK Prime Minister Keir Starmer said all G7 leaders agree they "have to find a way to de-escalate the situation" in the Middle East because the Israel-Iran conflict risks inflaming the "tinderbox" of the Gaza Strip and hurting the global economy. Starmer said he had spoken to Trump about the issue, adding "the risk of the conflict escalating is obvious, I think, and the implications, not just for the region but globally, are really immense, so the focus has to be on de-escalation". German Chancellor Friedrich Merz told reporters on Monday ahead of the summit beginning in the Canadian Rocky Mountains that Germany is planning to draw up a final communique proposal on the Israel-Iran conflict that will stress that "Iran must under no circumstances be allowed to acquire nuclear weapons-capable material". But as Trump met with Canadian Prime Minister Mark Carney, he also stressed it was a mistake to remove Russia from the organisation in 2014 and doing so had destabilised the world. He also suggested it could be a good idea to add China to the G7. The US president also seemed to put a greater priority on his planned emphasis on addressing his grievances with other countries' trade policies. "Our primary focus will be trade," Trump said of his talks with Carney. This year's G7 summit is full of combustible tensions and it is unclear how the gathered world leaders can work together to resolve them. Trump already has hit several dozen countries with severe tariffs that risk a global economic slowdown. There is little progress on settling the wars in Ukraine and the Gaza Strip, and now a new conflict between Israel and Iran. "We're gathering at one of those turning points in history," Carney said. "The world's more divided and dangerous." But as the news media was escorted from the opening session, Carney could be heard as he turned to Trump and referenced how his remarks about the Middle East, Russia and China had already drawn attention to the summit. "Mr President, I think you've answered a lot of questions already," Carney said. Trump wants to focus on trade although he may have to balance those issues with the broader need by the G7 countries - which also include France, Italy and Japan - to project a united front. Leaders who are not part of the G7 but have been invited to the summit by Carney include the heads of state of Australia, India, Ukraine, Brazil, South Africa, South Korea, Mexico and the United Arab Emirates. The G7 briefly expanded to the G8 with Russia as a member, only for Russia to be expelled in 2014 after annexing Crimea and taking a foothold in Ukraine that preceded its 2022 invasion of the country. The Group of Seven summit has begun in Canada with world leaders scrambling to contain the escalating conflict between Israel and Iran, with US President Donald Trump reiterating his call for the two countries to start negotiating. "They should talk, and they should talk immediately," he told reporters. UK Prime Minister Keir Starmer said all G7 leaders agree they "have to find a way to de-escalate the situation" in the Middle East because the Israel-Iran conflict risks inflaming the "tinderbox" of the Gaza Strip and hurting the global economy. Starmer said he had spoken to Trump about the issue, adding "the risk of the conflict escalating is obvious, I think, and the implications, not just for the region but globally, are really immense, so the focus has to be on de-escalation". German Chancellor Friedrich Merz told reporters on Monday ahead of the summit beginning in the Canadian Rocky Mountains that Germany is planning to draw up a final communique proposal on the Israel-Iran conflict that will stress that "Iran must under no circumstances be allowed to acquire nuclear weapons-capable material". But as Trump met with Canadian Prime Minister Mark Carney, he also stressed it was a mistake to remove Russia from the organisation in 2014 and doing so had destabilised the world. He also suggested it could be a good idea to add China to the G7. The US president also seemed to put a greater priority on his planned emphasis on addressing his grievances with other countries' trade policies. "Our primary focus will be trade," Trump said of his talks with Carney. This year's G7 summit is full of combustible tensions and it is unclear how the gathered world leaders can work together to resolve them. Trump already has hit several dozen countries with severe tariffs that risk a global economic slowdown. There is little progress on settling the wars in Ukraine and the Gaza Strip, and now a new conflict between Israel and Iran. "We're gathering at one of those turning points in history," Carney said. "The world's more divided and dangerous." But as the news media was escorted from the opening session, Carney could be heard as he turned to Trump and referenced how his remarks about the Middle East, Russia and China had already drawn attention to the summit. "Mr President, I think you've answered a lot of questions already," Carney said. Trump wants to focus on trade although he may have to balance those issues with the broader need by the G7 countries - which also include France, Italy and Japan - to project a united front. Leaders who are not part of the G7 but have been invited to the summit by Carney include the heads of state of Australia, India, Ukraine, Brazil, South Africa, South Korea, Mexico and the United Arab Emirates. The G7 briefly expanded to the G8 with Russia as a member, only for Russia to be expelled in 2014 after annexing Crimea and taking a foothold in Ukraine that preceded its 2022 invasion of the country. The Group of Seven summit has begun in Canada with world leaders scrambling to contain the escalating conflict between Israel and Iran, with US President Donald Trump reiterating his call for the two countries to start negotiating. "They should talk, and they should talk immediately," he told reporters. UK Prime Minister Keir Starmer said all G7 leaders agree they "have to find a way to de-escalate the situation" in the Middle East because the Israel-Iran conflict risks inflaming the "tinderbox" of the Gaza Strip and hurting the global economy. Starmer said he had spoken to Trump about the issue, adding "the risk of the conflict escalating is obvious, I think, and the implications, not just for the region but globally, are really immense, so the focus has to be on de-escalation". German Chancellor Friedrich Merz told reporters on Monday ahead of the summit beginning in the Canadian Rocky Mountains that Germany is planning to draw up a final communique proposal on the Israel-Iran conflict that will stress that "Iran must under no circumstances be allowed to acquire nuclear weapons-capable material". But as Trump met with Canadian Prime Minister Mark Carney, he also stressed it was a mistake to remove Russia from the organisation in 2014 and doing so had destabilised the world. He also suggested it could be a good idea to add China to the G7. The US president also seemed to put a greater priority on his planned emphasis on addressing his grievances with other countries' trade policies. "Our primary focus will be trade," Trump said of his talks with Carney. This year's G7 summit is full of combustible tensions and it is unclear how the gathered world leaders can work together to resolve them. Trump already has hit several dozen countries with severe tariffs that risk a global economic slowdown. There is little progress on settling the wars in Ukraine and the Gaza Strip, and now a new conflict between Israel and Iran. "We're gathering at one of those turning points in history," Carney said. "The world's more divided and dangerous." But as the news media was escorted from the opening session, Carney could be heard as he turned to Trump and referenced how his remarks about the Middle East, Russia and China had already drawn attention to the summit. "Mr President, I think you've answered a lot of questions already," Carney said. Trump wants to focus on trade although he may have to balance those issues with the broader need by the G7 countries - which also include France, Italy and Japan - to project a united front. Leaders who are not part of the G7 but have been invited to the summit by Carney include the heads of state of Australia, India, Ukraine, Brazil, South Africa, South Korea, Mexico and the United Arab Emirates. The G7 briefly expanded to the G8 with Russia as a member, only for Russia to be expelled in 2014 after annexing Crimea and taking a foothold in Ukraine that preceded its 2022 invasion of the country. The Group of Seven summit has begun in Canada with world leaders scrambling to contain the escalating conflict between Israel and Iran, with US President Donald Trump reiterating his call for the two countries to start negotiating. "They should talk, and they should talk immediately," he told reporters. UK Prime Minister Keir Starmer said all G7 leaders agree they "have to find a way to de-escalate the situation" in the Middle East because the Israel-Iran conflict risks inflaming the "tinderbox" of the Gaza Strip and hurting the global economy. Starmer said he had spoken to Trump about the issue, adding "the risk of the conflict escalating is obvious, I think, and the implications, not just for the region but globally, are really immense, so the focus has to be on de-escalation". German Chancellor Friedrich Merz told reporters on Monday ahead of the summit beginning in the Canadian Rocky Mountains that Germany is planning to draw up a final communique proposal on the Israel-Iran conflict that will stress that "Iran must under no circumstances be allowed to acquire nuclear weapons-capable material". But as Trump met with Canadian Prime Minister Mark Carney, he also stressed it was a mistake to remove Russia from the organisation in 2014 and doing so had destabilised the world. He also suggested it could be a good idea to add China to the G7. The US president also seemed to put a greater priority on his planned emphasis on addressing his grievances with other countries' trade policies. "Our primary focus will be trade," Trump said of his talks with Carney. This year's G7 summit is full of combustible tensions and it is unclear how the gathered world leaders can work together to resolve them. Trump already has hit several dozen countries with severe tariffs that risk a global economic slowdown. There is little progress on settling the wars in Ukraine and the Gaza Strip, and now a new conflict between Israel and Iran. "We're gathering at one of those turning points in history," Carney said. "The world's more divided and dangerous." But as the news media was escorted from the opening session, Carney could be heard as he turned to Trump and referenced how his remarks about the Middle East, Russia and China had already drawn attention to the summit. "Mr President, I think you've answered a lot of questions already," Carney said. Trump wants to focus on trade although he may have to balance those issues with the broader need by the G7 countries - which also include France, Italy and Japan - to project a united front. Leaders who are not part of the G7 but have been invited to the summit by Carney include the heads of state of Australia, India, Ukraine, Brazil, South Africa, South Korea, Mexico and the United Arab Emirates. The G7 briefly expanded to the G8 with Russia as a member, only for Russia to be expelled in 2014 after annexing Crimea and taking a foothold in Ukraine that preceded its 2022 invasion of the country.
an hour ago
Trump attends G7 opening session as leaders acknowledge global 'turning point'
President Donald Trump focuses on war and trade while attending the G7 summit in Canada amid the ongoing Israel-Iran conflict. June 16, 2025
