Top finance officials from major economies will gather in Canada for critical discussions marked by growing anxiety over the repercussions of President Trump's trade policies. The G7 finance ministers' summit starts Tuesday, as fears of a global recession linked to the U.S. tariffs loom large. This year, the traditionally collegial gathering may see more tension, especially as Trump's “America first” agenda continues to provoke strife among allied nations, particularly Europe, Japan, and Canada.
The meeting's atmosphere is reportedly strained due to recent discord between the U.S. and Canada, the host nation and one that Trump has controversially claimed he would consider annexing. As Charles Lichfield from the Atlantic Council remarked, “It’s going to be awkward.”
During these three days of talks, delegates will address pressing issues including support for Ukraine, trade practices in China, and how to stabilize the shaking global economy. However, Trump's contentious trade strategies, viewed by many economists as the paramount threat to global stability, will overshadow other discussions, putting Treasury Secretary Scott Bessent in a challenging position.
Bessent, who missed the recent Group of 20 finance ministers' meeting, will attend this important summit at a time of heightened geopolitical sensitivity and economic uncertainty.
