The European Central Bank and Bank of Japan are among Group of Seven institutions leading the charge this week with their first interest-rate meetings of 2020, each of which may set the tone for the year ahead.
France and Britain aim to present a united front on the issue of Iran – where they have been at odds with the United States – as major world powers prepared to discuss Iran and other topics at the G7 Summit.
Iran has slammed a "completely biased and unilateral" communiqué issued by foreign ministers of the Group of Seven nations against the Islamic Republic, saying the G7 states only seek to appease the United States.
The United States and Canada swung sharply towards a diplomatic and trade crisis on Sunday as top White House advisers lashed out at Canadian Prime Minister Justin Trudeau a day after US President Trump called him “very dishonest and weak.”
Groups like the G7, G20 and the like are overtaken by every day events, so while China which on some accounts is the largest economy in the world is not a member of the G7 industrialized nations, a country like Italy that does not belong there is a member, says an American investigative journalist.
The United States’ closest allies attacked the Trump administration on Friday for imposing tariffs on steel and aluminum imports and mounted challenges with the world’s top trade body, fouling the mood at a G7 finance leaders meeting.