Overview

• The G7 Finance Ministers' meeting in Banff, Canada, concludes with unresolved tensions over U.S. tariffs and multilateral cooperation.
• Canada's presidency emphasized restoring economic stability, with Ukraine invited to advocate for stronger sanctions against Russia.
• U.S. Treasury Secretary Scott Bessent urged a focus on trade imbalances and supported condemning China's production overcapacity.
• European and Canadian leaders pushed for unequivocal G7 backing of Ukraine, but divisions with the U.S. persist over the final statement.
• The meeting serves as a precursor to the June G7 Leaders' Summit, highlighting broader challenges to global economic governance.