G7 leaders meet in Canada to discuss global trade issues

The G7 comprises the United States, Canada, France, Germany, Italy, Japan and the United Kingdom.

Summit chair Canadian Prime Minister Mark Carney cautioned that the world is "more divided and dangerous," highlighting the importance of cooperation and economic prosperity for it to shape a better future.

"We might not agree on absolutely every issue, but where we will cooperate, we will make an enormous difference for our citizens and for the world, and bring the next era of prosperity," he was quoted as saying by global newswires.

On the first day of their discussions, Japanese Prime Minister Shigeru Ishiba and the other leaders focused on the world economy and economic security, including strengthening supply chains for critical minerals, as well as regional affairs.

Ishiba stressed the need for the G7 to unite and lead the international community in building a "free, fair and rules-based economic order," according to the Japanese government.

He also said it is essential to maintain and reinforce the multilateral free trade regime with the World Trade Organization at its core.

Trump, who repeated his complaint about the expulsion of Russia from the group in 2014 after Moscow occupied and annexed the autonomous Ukrainian region of Crimea, said the hypothetical proposal to include China in the grouping is “not a bad idea".

As a consensus on major global issues seems difficult with Trump’s ‘America First’ agenda, the G7 leaders plan to release brief ‘action-oriented’ statements instead of a joint statement.

Carney has invited some leaders from outside the group, including from Australia, India, Mexico, South Korea and Ukraine, who will join their G7 counterparts on the second day of discussions.

“There will be no solution [to the US trade threat] at this summit, but we may be able to get closer to a solution in small steps,” German Chancellor Friedrich Merz told reporters.

Shortly after arriving at the summit, European Commission President Ursula von der Leyen made an appeal to “keep trade between us fair, predictable and open.”

ALCHEMPro News Desk (DS)