The News
G7 finance ministers, including US Treasury Secretary Scott Bessent, will make a play for unity at a meeting in Canada, this week, amid uncertainty over US tariffs.
The Western alliance is striving to present a cohesive front on several non-tariff issues, including the Ukraine war, China’s excess industrial capacity, and climate change, Reuters noted. But analysts argued that any consensus will be expected align with US President Donald Trump’s priorities, with the likelihood of trade deals with Washington emerging from the meeting also low.
The alliance’s joint communiqué will, therefore, likely be more vague: While tweaks to foreign-exchange policy language is unlikely, ING warned that any deviation compared to previous agreements could be a “high impact event,” rattling the value of the dollar. Meanwhile, the euro rose to a 10-day high ahead of the talks.