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Canada says G7 finance ministers to focus on restoring stability, growth

BANFF, Alberta (Reuters) -Finance ministers from the Group of Seven industrial democracies will try to agree on policies to restore global growth and stability, Canadian Finance Minister Francois-Philippe Champagne said on Tuesday, acknowledging that tensions over new U.S. tariffs would continue. The meetings over the next two days in the mountain resort town of Banff, Alberta, will be about "back to basics" and will include discussions about excess manufacturing capacity, non-market practices and financial crimes, Champagne told a conference. He said discussions would take place within the G7 and bilaterally with U.S. Treasury Secretary Scott Bessent about the impact of President Donald Trump's tariffs on trading partners, and that there would always be tension around such issues.
Canada has announced that the G7 finance ministers and central bank governors will convene in Niigata, Japan, from May 11-13, 2023, to discuss global economic challenges, including the impact of Russia's war in Ukraine, and to address issues like inflation, supply chain disruptions, and the transition to a green economy. The meeting aims to foster cooperation among the G7 nations to support a strong, sustainable, and inclusive global economic recovery, with a focus on reinforcing the global financial system and addressing food and energy security. Canadian Finance Minister Chrystia Freeland emphasized the importance of the G7's role in leading the global response to these challenges and in supporting Ukraine.

Read the Full Reuters Article at:
[ https://www.yahoo.com/news/canada-says-g7-finance-ministers-002937950.html ]