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G7 nations paper over differences on tariffs and Ukraine, agree to address 'imbalances'

G7 nations paper over differences on tariffs and Ukraine, agree to address 'imbalances'

Independent22-05-2025

Top finance officials from the world's seven wealthiest democracies set aside stark differences on U.S. tariffs and agreed to counter global 'economic imbalances,' a swipe at China 's trade practices.
In a communiqué issued Thursday, the Group of Seven finance ministers and central bank governors, meeting in the Canadian Rockies, left out their traditional defense of free trade and toned down their references to Russia 's war in Ukraine compared with last year. But they did agree that further sanctions on Russia could be imposed if the two countries don't reach a ceasefire.
The communiqué said the G7 members would continue to monitor 'nonmarket policies and practices' which contribute to imbalances in global trade. The statement did not mention China but nonmarket policies typically refer to that country's export subsidies and currency policies that the Trump administration charges gives it an advantage in international trade.
The high-profile gathering of officials from the United States, Canada, United Kingdom, Japan, Germany, France, and Italy appeared to be more congenial than an earlier meeting of G7 foreign ministers in March. Yet that meeting, also in Canada, occurred as President Donald Trump was in the midst of threatening stiff tariffs on Canada and suggesting it could become the 51st state.

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Protests over immigration raids pop up across the US with more planned
Protests over immigration raids pop up across the US with more planned

The Independent

time29 minutes ago

  • The Independent

Protests over immigration raids pop up across the US with more planned

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Tariffs: US-China talks end with plan for Trump and Xi to approve
Tariffs: US-China talks end with plan for Trump and Xi to approve

BBC News

time34 minutes ago

  • BBC News

Tariffs: US-China talks end with plan for Trump and Xi to approve

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Trump-backed candidate scores big win in race to save deep blue state from 'horror show' reality
Trump-backed candidate scores big win in race to save deep blue state from 'horror show' reality

Daily Mail​

time36 minutes ago

  • Daily Mail​

Trump-backed candidate scores big win in race to save deep blue state from 'horror show' reality

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