G7 Confronts US Trade Policy Disputes

Published on 5.23.25

  The G7 leaders' meeting in Banff National Park, Canada, has highlighted the ongoing trade disputes between member countries and their concerns about US tariffs. Canadian Finance Minister Francois-Philippe Champagne emphasized the importance of fair and predictable trade rules, while German Finance Minister Lars Klingbeil discussed trade policy with US Treasury Secretary Scott Bessent. The US is pushing for G7 countries to exert economic pressure on China, but Canada and other allies are hesitant due to their own struggles with US coercion. The meeting comes as the US has imposed tariffs on Canadian steel and aluminum imports, sparking a trade dispute between the two countries. Canadian officials have expressed concerns about the impact of US trade policies on global markets and economies. Britain's limited trade deal with the US leaves it facing 10% tariffs on most goods, while Canada is still struggling with 25% duties on many exports. US Treasury Secretary Scott Bessent will push for the group to address imbalances and counteract China's state-driven model.

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