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G7 finance chiefs begin talks under strain of Trump tariffs

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G7 finance leaders exchanged pleasantries before tough discussions Wednesday, seeking to restore stability in the face of economic turbulence from US President Donald Trump's punishing tariffs -- and to strengthen support for Ukraine.
The G7 finance chiefs' meeting in France was overshadowed by tensions due to U.S. President Donald Trump's trade policies, particularly his imposition of tariffs on steel and aluminum imports. The meeting, which took place in July 2019, saw European officials expressing frustration over the ongoing trade disputes, with French Finance Minister Bruno Le Maire stating that the U.S. tariffs were detrimental to the global economy. Despite the tensions, the G7 finance ministers and central bank governors aimed to focus on broader economic issues, including the need for structural reforms and the impact of digitalization on the economy. However, the lack of a joint communique at the end of the meeting highlighted the deep divisions among the G7 nations, primarily driven by the U.S.'s unilateral trade actions.

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