U.S. Treasury does not anticipate any trade deal announcements at G7 finance meeting in Canada this week

U.S. Treasury does not anticipate any trade deal announcements at G7 finance meeting in Canada this week

WASHINGTON - U.S. Treasury Secretary Scott Bessent will attend the Group of Seven (G7) finance leaders' meeting in Canada next week, with a focus on addressing trade imbalances and non-market economic practices, a Treasury spokesperson confirmed. The meeting, scheduled to take place in the Rocky Mountain resort town of Banff, Alberta, will see Bessent join fellow G7 finance ministers and central bank governors from Canada, the U.S., Japan, Germany, France, Britain, and Italy [1].

Bessent is expected to emphasize the need to address trade imbalances and non-market practices, which he has previously identified as significant challenges for global economic stability. The Treasury spokesperson noted that Bessent will also discuss ways to promote private sector-led growth. This approach aligns with Bessent's broader economic agenda, which includes reducing government spending and regulation to foster a more market-driven economy [2].

The meeting comes at a time when the G7 is grappling with tensions over trade policies, particularly in the context of Trump's tariffs. At the April meeting, the group did not issue a joint statement, but Canadian Finance Minister Francois-Philippe Champagne acknowledged unity on many issues and welcomed Bessent's declaration of U.S. support for the IMF and World Bank [2].

The U.S. Treasury does not anticipate any significant trade deal announcements at this week's G7 finance meeting. Instead, the focus will be on fostering a more balanced and market-oriented global economic environment. Bessent's participation underscores the U.S. commitment to addressing these issues, which have been a central part of his economic policy platform [1].

References:
[1] https://www.usnews.com/news/world/articles/2025-05-18/us-treasurys-bessent-to-attend-g7-finance-meeting-focus-on-imbalances
[2] https://www.investing.com/news/world-news/us-treasurys-bessent-to-attend-g7-finance-meeting-focus-on-imbalances-4051694