Zelenskiy Describes “Substantive” Call With Trump Envoys as Ukraine, U.S. Explore Peace Path 
U.S. Defense Bill Sets Record $901 Billion Budget, Includes Ukraine Aid 
Supreme Court to Review Legality of Trump’s Birthright Citizenship Restrictions 
UK Job Market Shows Persistent Weakness Ahead of November Budget 
Honduran Election Deadlock Continues as U.S. Attention Intensifies 
U.S. Stock Futures Hold Steady Ahead of Key Fed Decision 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
U.S. Appeals Court Rules Trump Can Remove Members of Key Federal Labor Boards 
Zelenskiy Calls Talks With U.S. Envoys “Constructive but Difficult” as Ukraine Pushes for Peace Plan 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Holiday Economic Questions: What Bank of America Says You Should Expect 
Boeing Executive Says Trump’s Equity Stake Plan Won’t Target Major Defense Contractors 
Benin Thwarts Coup Attempt as President Talon Vows Accountability 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Austria’s AA Credit Rating Affirmed as Fitch Highlights Stable Outlook 
Cuba Quietly Signals Openness to Post-Maduro Venezuela as U.S. Pressure Intensifies 
Finance ministers from the Group of Seven (G7) nations met in Banff, Canada, aiming to ease tensions over U.S. President Donald Trump’s tariffs and preserve global economic cooperation. Despite broader disputes, the G7 focused on shared concerns including Ukraine support, China’s non-market practices, and financial crime.
U.S. Treasury Secretary Scott Bessent characterized the meetings as productive, highlighting improved diplomatic tone compared to 2018, when Trump’s tariffs fractured talks. This year, tariffs are more expansive, but G7 ministers attempted to find compromise with Bessent, who was described by European officials as “flexible” and willing to engage.
However, divisions remain. The U.S. opposed language calling Russia’s invasion of Ukraine “illegal,” while Italy pushed to block companies aiding Russia from postwar reconstruction contracts. G7 delegates also debated lowering the $60 price cap on Russian oil, with the EU advocating tighter sanctions.
Bessent’s stance emphasizes U.S. priorities: stricter measures against China’s trade subsidies and reluctance to endorse any communique not aligned with Washington’s goals. Meanwhile, Japan and the U.S. agreed their current dollar-yen exchange rate reflects economic fundamentals, though no specific currency targets were discussed.
Trump’s global trade stance continues to weigh on allies. Japan, Germany, France, and Italy may face U.S. tariffs exceeding 20% by July. Britain still bears 10% duties on most goods, and Canada contends with separate 25% tariffs.
Despite uncertainty over a final joint statement, participants stressed the importance of constructive dialogue. Germany’s Finance Minister Lars Klingbeil and Bessent agreed to continue talks in Washington, signaling efforts to stabilize G7 relations amid mounting global economic pressures.
By balancing cooperation with national interests, the G7 seeks to maintain relevance in shaping global trade and financial policy.
