G7 hopes to show unity on Ukraine despite darkening economic outlook

G7 hopes to show unity on Ukraine despite darkening economic outlook

The Group of Seven rich democracies will seek to demonstrate their long-term support for Ukraine in its fight against Russian aggression at a summit starting on Sunday even as the war's growing impact on the world economy tests their resolve. The leaders of the United States, Germany, France, Britain, Italy, Canada and Japan will discuss how to tighten the screws on the Kremlin at the three-day summit at Schloss Elmau, a luxury hotel in a Bavarian mountain valley. But as the war drags into its fifth month, they will be wary of any sanctions that could further darken the global economic outlook.…
Read More Here
UPDATED: G7 calls for study in China on COVID origins, agree on increased climate finance

UPDATED: G7 calls for study in China on COVID origins, agree on increased climate finance

Group of Seven leaders called for a transparent, science-based study, including in China, into the origins of COVID-19, to be convened by the World Health Organization, a draft communique showed. "We also call for a timely, transparent, expert-led, and science-based WHO-convened Phase 2 COVID-19 Origins study including, as recommended by the experts’ report, in China," the communique, which is almost finalised, said. They also called on China to respect human rights in its Xinjiang region and allow Hong Kong a high degree of autonomy, according to an almost finalised version of the G7 summit communique. "We will promote our values,…
Read More Here
UPDATED: G7 provides 1 billion COVID vaccine doses, will work to give more – communique

UPDATED: G7 provides 1 billion COVID vaccine doses, will work to give more – communique

Group of Seven countries will provide 1 billion COVID-19 vaccine doses over the next year and work with the private sector, the G20 and other countries to increase the contribution over months to come, according to an almost finalised draft of the communique. "The commitments since we last met in February 2021 including here in Carbis Bay provide for 1 billion doses over the next year," said the communique, seen by Reuters. "We will work together with the private sector, the G20 and other countries to increase this contribution over the months to come," the communique said. Two sources said…
Read More Here
What is a global minimum tax and what will it mean?

What is a global minimum tax and what will it mean?

Finance Ministers from the Group of Seven (G7) rich nations have said they are close to a landmark accord setting a global minimum corporate tax rate, an agreement that could then form the basis of a worldwide deal. Such a deal aims to end what U.S. Treasury Secretary Janet Yellen has called a "30-year race to the bottom on corporate tax rates" as countries compete to lure multinationals. WHY A GLOBAL MINIMUM TAX? Major economies are aiming to discourage multinationals from shifting profits - and tax revenues - to low-tax countries regardless of where their sales are made. Increasingly, income…
Read More Here
UPDATED: G7 nations near historic deal on taxing multinationals

UPDATED: G7 nations near historic deal on taxing multinationals

Group of Seven rich nations will seek to overcome long-standing differences on Saturday and strike a landmark deal to close the net on large companies that they say do not pay enough tax. The proposed accord, which could form the basis of a global pact next month, is aimed at ending a decades-long "race to the bottom" in which countries have competed to attract corporate giants with ultra-low tax rates and exemptions. That has in turn cost their public coffers hundreds of billions of dollars - a shortfall they now need to recoup all the more urgently to pay for…
Read More Here
In climate push, G7 agrees to stop international funding for coal

In climate push, G7 agrees to stop international funding for coal

The world’s seven largest advanced economies agreed to stop international financing of coal projects that emit carbon by the end of this year, and phase out such support for all fossil fuels, to meet globally agreed climate change targets. Stopping fossil fuel funding is seen as a major step the world can make to limit the rise in global temperatures to 1.5 degrees Celsius above pre-industrial times, which scientists say would avoid the most devastating impacts of climate change. Getting Japan on board to end international financing of coal projects in such a short timeframe means those countries, such as…
Read More Here
G7 should invest $1 trillion per year for sustainable COVID recovery

G7 should invest $1 trillion per year for sustainable COVID recovery

G7 countries should invest $10 trillion to stoke an investment-driven recovery that puts COVID-19 vaccines in arms and triggers a sweeping energy transformation to slow climate change, according to a report requested by Prime Minister Boris Johnson. U.S. President Joe Biden is expected to join other Group of Seven leaders at a G7 summit chaired by Britain's Johnson in Cornwall, southern England, on June 11-13. Founded in 1975 as a forum for the West’s richest nations to discuss crises such as the OPEC oil embargo, the G7 will discuss what it perceives as the biggest threats: China, Russia, climate change…
Read More Here
Japan gets unanimous G7 support for this summer Olympics

Japan gets unanimous G7 support for this summer Olympics

TOKYO (Reuters) - Japanese Prime Minister Yoshihide Suga said on Saturday Group of Seven leaders gave unanimous support for his bid to hold the Tokyo Olympics this summer, as the country struggles to contain the coronavirus and to inoculate its citizens swiftly.  "I told the meeting that I want to realise a safe and secure Olympics as testimony that human beings will have won the battle with the coronavirus," Suga told reporters following a virtual G7 summit meeting held on Friday.  "I was able to gain support from all the leaders. It was so encouraging." The Tokyo Olympics were originally…
Read More Here
White House says U.S. not inviting Russia to G7

White House says U.S. not inviting Russia to G7

ABOARD AIR FORCE ONE (Reuters) - The Biden administration is not inviting Russia to join the G7 group of world leaders, White House spokeswoman Jen Psaki said on Friday, backing away from former President Donald Trump's push for Moscow's membership. Any invitation for Russia to join the G7 would be made in partnership with all of the group's members, she told reporters, speaking aboard Air Force One. Trump last June had called the G7 "a very outdated group of countries” and said that he wanted to add Russia, Australia, South Korea and India to their ranks. "I don't think we're…
Read More Here
UK’s Johnson to host virtual G7 meeting to push for global vaccine roll-out

UK’s Johnson to host virtual G7 meeting to push for global vaccine roll-out

British Prime Minister Boris Johnson will host a virtual meeting of G7 leaders next week to call for action to ensure equal global distribution of COVID-19 vaccines, and to prevent future pandemics, his office said. The meeting of the leaders from the Group of Seven rich nations on Friday is the first since April last year, and will be Joe Biden's first major multilateral engagement as U.S. president, Downing Street said. "The solutions to the challenges we face – from the colossal mission to get vaccines to every single country, to the fight to reverse the damage done to our…
Read More Here
U.S. tells G7 that it is back at the table to help with global recovery

U.S. tells G7 that it is back at the table to help with global recovery

U.S. President Joe Biden's administration told allies on Friday it was re-engaging with them to help steer the global economy out of its worst slump since the Great Depression, a contrast with the go-it-alone approach of Donald Trump. U.S. Treasury Secretary Janet Yellen told her peers from the Group of Seven rich democracies that Washington was committed to multilateralism and "places a high priority on deepening our international engagement and strengthening our alliances." Yellen spoke to the G7 in a virtual video meeting, chaired by Britain, at which she called for continued fiscal support to secure the recovery, saying "the…
Read More Here
U.S. seeks to build bridges on global economy

U.S. seeks to build bridges on global economy

Global finance chiefs meet on Friday for the first time since Joe Biden replaced Donald Trump as U.S. president, vowing to rebuild bridges with allies to steer the world economy out of its deepest slump since the Great Depression. U.S. Treasury Secretary Janet Yellen, a familiar face to global policymakers from her days in charge of the Federal Reserve, will join her counterparts from the Group of Seven (G7) rich nations for the online discussions. Britain’s finance minister, Rishi Sunak, who will co-chair the talks, wants the meeting to send a fresh signal that trillions of dollars of stimulus from…
Read More Here
G7 foreign ministers condemn Navalny’s ‘confirmed poisoning’

G7 foreign ministers condemn Navalny’s ‘confirmed poisoning’

The Group of Seven foreign ministers condemned the “confirmed poisoning” of Kremlin critic Alexei Navalny in the strongest terms, according to a statement released by the U.S. State Department. “We, the G7 foreign ministers of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States of America and the High Representative of the European Union, are united in condemning, in the strongest possible terms, the confirmed poisoning of Alexei Navalny,” said the statement. Navalny, who is being treated in a Berlin hospital, was airlifted to Germany after falling ill on a Russian domestic flight last month. Germany says…
Read More Here
Germany against US push to let Russia back into G7

Germany against US push to let Russia back into G7

Germany has rejected a proposal by U.S. President Donald Trump to invite Russian President Vladimir Putin back into the Group of Seven (G7) most advanced economies, German Foreign Minister Heiko Maas said in a newspaper interview published on Monday. Trump raised the prospect last month of expanding the G7 to again include Russia, which had been expelled in 2014 following Moscow’s annexation of Ukraine’s Crimea region. But Maas told Rheinische Post that he did not see any chance for allowing Russia back into the G7 as long as there was no meaningful progress in solving the conflict in Crimea as…
Read More Here
UK leads fall in global trust in government COVID responses

UK leads fall in global trust in government COVID responses

People across almost all the world's leading rich economies have turned more sceptical about their governments' handling of the coronavirus pandemic with confidence slumping the most in Britain, a survey showed on Thursday. In May, in the Group of Seven nations as a whole, 48% of respondents approved of how authorities had handled the pandemic, down from 50% in April and 54% in March, the survey published by polling firm Kantar showed. Britain saw the biggest drop - a sharp fall of 18 points from April to 51% - while in the United States, Canada, Germany, France and Italy, the…
Read More Here
G7 summit delayed, Trump to invite other countries

G7 summit delayed, Trump to invite other countries

US President Donald Trump said Saturday he will delay the G7 summit scheduled to take place in June and invite other countries -- including Russia -- to join the meeting. "I don't feel that as a G7 it properly represents what's going on in the world. It's a very outdated group of countries," Trump told reporters on Air Force One. He said he would like to invite Russia, South Korea, Australia and India to join an expanded summit in the fall. It could happen in September, either before or after the UN General Assembly, Trump said, adding that "maybe I'll…
Read More Here
Trump to convene G7 leaders in video call to discuss pandemic

Trump to convene G7 leaders in video call to discuss pandemic

  U.S. President Donald Trump will hold a video teleconference with G7 leaders on Thursday to coordinate national responses to the coronavirus outbreak, the White House said. Trump, who is head of the G7 this year, had planned to hold this year’s summit at the presidential retreat of Camp David, Maryland, in June, but moved it to a virtual setting due to the virus. The Group of Seven nations consist of the United States, France, Britain, Italy, Canada, Japan and Germany, and all seven of them have been hit hard by the virus. The Thursday session is a follow-up to…
Read More Here
G7 to release funds to fight fires in the Amazon

G7 to release funds to fight fires in the Amazon

International leaders at the G7 summit have agreed to provide logistical and financial support to help fight fires in the Amazon rainforest. French President Emmanuel Macron said G7 countries would release $22m. The agreement came as the leaders of Canada, France, Germany, Italy, Japan, the UK and the US continued to meet in Biarritz, France. A record number of fires is burning in Brazil, mostly in the Amazon, according to the country's space research agency. Macron said the funds would be made available "immediately" - primarily to pay for more fire-fighting planes. G7 leaders also intend to discuss plans to…
Read More Here
Trump says he does not want regime change in Iran

Trump says he does not want regime change in Iran

U.S. President Donald Trump said on Monday he wanted to see a strong Iran and was not seeking a change of leadership in Tehran, adding that the standard of living for ordinary Iranians was unacceptable. Trump made the comments to reporters during a summit of the G7 in Biarritz in France. He said he had not been surprised that France had invited Iranian Foreign Minister Mohammad Javad Zarif for talks on Sunday on the sidelines of the G7 gathering, which were aimed at trying to ease tensions between Washington and Tehran. However, he said he had not wanted to see…
Read More Here
G7 leaders close to agreeing plan to help the Amazon

G7 leaders close to agreeing plan to help the Amazon

International leaders gathering at the G7 summit are reportedly nearing an agreement to help fight fires in the Amazon rainforest. French President Emmanuel Macron said on Sunday a deal to provide "technical and financial help" was close. Leaders from the US, Japan, Germany, France, Italy, the UK and Canada continue their meeting in the seaside town of Biarritz on Monday. It comes amid international tension over record fires burning in Brazil. Sources close to the talks were quoted as saying that the G7 leaders had agreed to do everything they could to help tackle the fires, giving Macron a mandate…
Read More Here
Joint Statement following meeting between the British PM and the US President in Biarritz

Joint Statement following meeting between the British PM and the US President in Biarritz

The Joint Statement following the meeting of US President Donald J. Trump and Prime Minister Boris Johnson during the G7 meeting in Biarritz France.   Today, President Donald J. Trump and Prime Minister Boris Johnson met in the margins of the G7 Summit in Biarritz, France. They celebrated the enduring Special Relationship between the United States and the United Kingdom and reaffirmed the value of the transatlantic partnership. The President and the Prime Minister noted the unique depth of the security and defense partnership between the two countries and the benefits it brings to each. They committed to increasing the…
Read More Here
Photo Story: The other side of the G7 Summit

Photo Story: The other side of the G7 Summit

A photo showing the spouses of the leaders attending the G7 summit in Biarritz, France. Brigitte Macron (2-R), wife of French President Emmanuel Macron, and Espelette mayor Jean-Marie Iputcha (R) welcome U.S. First Lady Melania Trump (L), Akie Abe (4-L), wife of Japan's Prime Minister Shinzo Abe, Chile's First Lady Cecilia Morel (3-R), Jenny Morrison (2-L), wife of Australia's Prime Minister Scott Morrison, Malgorzata Tusk (3-L), wife of European Council President Donald Tusk as they arrive for a visit on traditional Basque culture as part of the G7 summit, in Espelette, near Biarritz, France, 25 August 2019. The G7 Summit…
Read More Here
Stolen Macron portraits to reappear at G7 protests

Stolen Macron portraits to reappear at G7 protests

As world leaders gather in Biarritz for the annual G7 summit, a few kilometeres away in Bayonne, French citizens are marching through the streets, proudly carrying photos of their country’s leader. Photos that were stolen from official buildings during protests earlies in the year in France. It began in February, when activists from two groups, ANV-COP 21 and Bizi, marched into town halls in Paris, Lyon, Ustaritz and Biarritz, and walked out again carrying the official portrait of the French president that hangs on walls in public buildings across the country.  Protesters holding official portraits of French President Emmanuel Macron…
Read More Here
UPDATED: Trump and Johnson in bilateral meeting in Biarritz

UPDATED: Trump and Johnson in bilateral meeting in Biarritz

US President Donald J. Trump (R) and Britain's Prime Minister Boris Johnson (L) pose as they arrive for a bilateral meeting during the G7 summit in Biarritz, France, 25 August 2019. The G7 Summit runs from 24 to 26 August in Biarritz. At the meeting Trump said that "we will have very a big trade deal with UK". Trump also said Boris Johnson is the "right man for the job" to deliver Brexit. Before the meeting, Johnson used a pre-G7 summit phone call to U.S. President Donald Trump to demand he lower trade barriers and open up parts of the…
Read More Here
Johnson warns Trump to compromise to get UK trade deal, clash with Tusk over Brexit blame

Johnson warns Trump to compromise to get UK trade deal, clash with Tusk over Brexit blame

The US must lift restrictions on UK businesses if it wants a trade deal with the UK, Boris Johnson has said. Travelling to the G7 summit in Biarritz, France, the PM said there were "very considerable barriers in the US to British businesses". Johnson said he had already spoken to President Donald Trump about his concerns, adding he would do so again when they meet on Sunday morning. Johnson has begun his first summit as Prime Minister by clashing with European Council president Donald Tusk over who would be to blame for a failure to reach a Brexit deal. https://twitter.com/eucopresident/status/1165228950341214208?ref_src=twsrc%5Etfw…
Read More Here
Leading fashion companies to make G7 pledge to help environment

Leading fashion companies to make G7 pledge to help environment

Major fashion companies from around the world said on Friday they had signed a pact which they would present at this week’s G7 summit in Biarritz, France, to help protect the environment. The pact has been signed by 32 companies including the likes of Adidas, Burberry, Kering, Hermes, LVMH and Nike. Without action, the industry could account for a quarter of the world’s carbon budget by 2050. Growing numbers of young people are turning away from fast fashion towards reuse and resale sites such as Depop in the UK, Thredup and The RealReal in the US and YCloset in China.…
Read More Here
Trump’s top aides accuse Trudeau of betrayal of the president before his summit with North Korea, with one adviser saying Trudeau deserves a “special place in hell”

Trump’s top aides accuse Trudeau of betrayal of the president before his summit with North Korea, with one adviser saying Trudeau deserves a “special place in hell”

Toronto Sun : Donald Trump’s top aides levelled blistering criticism of Justin Trudeau on Sunday for what they see as his betrayal of the president before his summit with North Korea, with one adviser saying Trudeau deserves a “special place in hell.” Hours after the U.S. president left the G7 summit in Quebec on Saturday, he launched insults at the prime minister, calling him “very dishonest and weak.” Trump lashed out at Trudeau after the G7 issued a fragile joint communique in which the embattled alliance managed to overcome some differences and find areas of common ground. Within minutes of the…
Read More Here
G7 – The Confusion after the storm

G7 – The Confusion after the storm

Donald Trump announced via Twitter that the US had withdrawn its endorsement of a joint communiqué and launched a blistered attack on the Canadian Prime Minister. Trump described Trudeau as dishonest and weak as he accused Canada of trying to take advantage of US interests. In a tweet he said “Based on Justin’s false statements at his news conference, and the fact that Canada is charging massive Tariffs to our U.S. farmers, workers and companies, I have instructed our U.S. Reps not to endorse the Communique as we look at Tariffs on automobiles flooding the U.S. Market!” The FT said…
Read More Here
G7 For a President who uses Twitter there’s a Chancellor who uses Instagram

G7 For a President who uses Twitter there’s a Chancellor who uses Instagram

German Chancellor Angela Merkel shared this photo on her Instagram Account. The post said "Zweiter Tag des G7-Gipfels in Kanada: spontane Beratung am Rande der offiziellen Tagesordnung. --- Day two of the G7 summit in Canada: spontaneous meeting between two working sessions. #G7Charlevoix" Any additional comment is superfluous. However the BBC provides a good interpretation.
Read More Here
G7’s media reports show the different currents and converging points reflecting global political uncertain times

G7’s media reports show the different currents and converging points reflecting global political uncertain times

Sky News and The Guardian said that G7 countries have agreed to a "rapid and unified" response to hostile actions by Russia in the wake of the nerve agent attack in Salisbury. Sky said that "leaders of the seven richest nations vowed to send a "strong message" that interference by Russia and other foreign states will "not be tolerated", Prime Minister Theresa May said." Under plans agreed by the UK, US, France, Germany, Canada, Italy and Japan, there will be greater co-ordination to respond to threats including cyber attacks and other breaches of international rules. Mrs May also pushed for action to tackle…
Read More Here
Trump says Russia should be re-instated to G7

Trump says Russia should be re-instated to G7

President Donald Trump said Friday that Russia should be reinstated to a leading group of industrialized nations ahead of his visit to the G7 summit this weekend. Trump's statement is an extraordinary break from key US allies, and particularly striking given Russia's meddling in the 2016 election. A special counsel investigation into whether Trump campaign officials colluded with Russia is underway, though Trump has repeatedly denied the allegations. "Russia should be in this meeting," Trump told reporters upon leaving the White House for the summit, which is being held in Charlevoix, Canada. "They should let Russia come back in, because…
Read More Here
G7 meeting to start amidst a tweet and trade tariffs tension

G7 meeting to start amidst a tweet and trade tariffs tension

Reuters report that the leaders of the Group of Seven rich nations are set to clash with a combative U.S. President Donald Trump on Friday when they pressure him to lift sanctions on steel and aluminum they fear could lead to a trade war. If a 'twitter' exchange is to be seen as the overture for this meeting than the setting is rather full of animosity. Canada and France have taken a strong position against the US. The US president did not shy away and upped the ante. President Donald Trump on Thursday took more jabs at Canada and France…
Read More Here
G7 finance ministers isolate the US

G7 finance ministers isolate the US

The United States' closest allies attacked the Trump administration for imposing tariffs on steel and aluminium imports and mounted challenges with the world's top trade body, fouling the mood at a G7 finance leaders meeting. US treasury secretary Steven Mnuchin was the prime target of the criticism at the meeting of Group of Seven finance ministers and central bank governors in Canada, with the six other G7 member countries subject to the US metals tariffs, which were imposed on national security grounds. It was visible to anyone in the meeting to see how the US ended in complete isolation during the…
Read More Here